Playing Chicken

Published on 22 June 2015 at 10:38

11th-hour talks among eurozone countries are to resume on Monday 22 June to prevent Greece's default and possible exit from the common currency. Finance ministers will meet hours before national leaders in Brussels to discuss Athens' latest proposals on a deal aimed at releasing the €7.2 billion bailout money by the 30-June deadline.

According to I Kathimerini, Prime minister Alexis –

Tsipras spent much of Sunday holed up in a marathon cabinet meeting and discussed the new offer with the leaders of Germany, France and the European Commission by phone.

After four months of wrangling, face-saving compromise seems hard to find, as Athens is asking for a debt restructuring and refuses to make further cuts to social benefits, while its lenders demand additional spending cuts and tax hikes.

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