Grexit Looms As Greece's Bailout Approaches Expiration
European financiers declined to extend a Greek bailout package any further than Tuesday. With a €1.6 billion debt looming, can Greece avoid a Grexit?By Jake Godin | June 27, 2015
“The Greek government will continue decisively to give the fight in favor of these principals. We will continue to give the fight on behalf of the European people and of course on behalf of the Greek people,” Greek Prime Minister Alexis Tsipras said during a meeting in Brussels.
Greece is out of time. On Saturday, eurozone finance ministers held an emergency meeting without Greece where they decided not to extend the flailing nation’s bailout package past Tuesday.
“I think we must conclude that, however regretful, that the program will expire on Tuesday night,” Eurogroup President Jeroen Dijsselbloem said during Friday’s emergency meeting in Brussels.