With EU leaders refusing to consider a sudden new bailout demand from Alexis Tsipras prior to Sunday’s referendum, Greece looks set to defaultGreece is on the brink of default and insolvency as €240bn of bailout funding comes to an end, with the country either unable or refusing to make a €1.6bn payment to the International Monetary Fund. The failure to resolve the crisis by Tuesday night’s deadline could be a devastating psychological blow to the European project.Marking the lowest of lows in the eurozone’s five-year sovereign debt saga, Greece faced financial collapse as a deadline of midnight (Brussels time) approached without any hope of its radical leftist government, led by prime minister, Alexis Tsipras, striking a deal with the country’s creditors.Athens and Brussels buzz with rumours that Tsipras is about to get on a plane to EU headquarters Related: Greece's euro-referendum: 100 Greeks give their view Continue reading...
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