Eurozone struggles to find joint response to Greek referendum

Heads of governments at odds as Germany and European commission let Greece stew, while France, Italy and Spain are impatient for a deal

Germany and France scrambled to avoid a major split over Greece on Monday evening as the eurozone delivered a damning verdict on Alexis Tsipras's landslide referendum victory on Sunday and Angela Merkel demanded that the Greek prime minister put down new proposals to break the deadlock.

As concerns mount that Greek banks will run out of cash, and about the damage being inflicted on the country's economy, hopes for a breakthrough faded. EU leaders voiced despair and descended into recrimination over how to respond to Sunday's overwhelming rejection of eurozone austerity terms as the price for keeping Greece in the currency.

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The prospects of a happy resolution of this crisis are rapidly diminishing

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