Greece given days to agree bailout deal or face banking collapse and euro exit

Greece has 48 hours to strike a new bailout deal with its eurozone creditors or face a banking collapse, a humanitarian emergency, and the start of an exit from the single currency, European leaders decided on Tuesday evening.

Unless Athens presents convincing details entailing more austerity as the basis for its third bailout in five years, all 28 national EU leaders, not just those of the eurozone, are to gather in Brussels on Sunday in emergency session to discuss how to contain the fallout from Greece’s financial collapse.

“We have a Grexit scenario prepared in detail,” said Jean-Claude Juncker, president of the European commission.


Aren’t we all tired of this? Kick em out, let em stay just do something.

  • It’s soooo hard when socialists run out of other people’s money!

  • Martin B

    The party’s over, back to donkeys and olive oil.

  • Exile1981

    There is a good chance a grexit will bring the whole house of cards down on brussels

    • Millie_Woods

      If the grexit doesn’t do it, something else will. Europe hasn’t been the same since Marx and Engles released the communist manifesto.

  • marty_p

    For all I care, Greece can adopt Canadian Tire Money as their “Post Euro Currency”.

  • just a thought

    Another spin on Greece
    So, Greece owes Europe 100 for every 8 it received (probably also with interest)?
    What a corrupt bunch they all are.

  • Hard Little Machine

    Germany will float a new loan to them with much longer terms and then issue a bunch of new debt to pay for it. Merkel is looking to kick the can down the road 10 years. Then the Greeks can get back to laying in the sun on their beach towels.

  • Reader

    Ok, so it’s not Blue Moon…..

    • Reader

      Ok, so I wouldn’t call Merkel’s loans so friendly.