Athens left without financial lifeline following fortnight of non-stop brinkmanship at highest level of EU leadershipGreece is left alone, insolvent and almost bankrupt on Wednesday after five years of €240bn in European bailouts dried up and the country became the first in the European Union to default on its creditors. The country failed to make a €1.5bn payment to the International Monetary Fund on time and has thrust the eurozone into an emergency.The long-running debt debacle left Greece on the brink of financial collapse, worsening recent years of wrenching austerity, and represented a historic blow to a Europe committed to the irreversibility of its 16-year-old single currency. Continue reading...
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