Greek debt relief was not on table during bailout negotiations, says EU official

Official also believes Sunday's referendum is escalation of a Greek negotiating strategy that has gone wrong

Debt relief was not on the table during negotiations to extend Greece's existing bailout programme and agree a package of reforms needed to unlock its remaining funds, according to a senior EU official.

The official told the Guardian that debt relief was "politically highly toxic for many eurozone member states".

Things happened too fast for game theorist [Varoufakis] to adapt, and not only is he destroying his economy, but has made a huge tactical mistake.