Article BC18 Greek debt default looks more likely by the day

Greek debt default looks more likely by the day

by
Larry Elliott Economics editor
from on (#BC18)

Greece and its eurozone partners have 72 hours to resolve their differences, but rather than edging closer together the two sides have never seemed further apart

It's the morning of Friday 19 June. In Luxembourg, the finance ministers from the eurozone's 19 countries are heading for home. Talks aimed at finding a solution to the Greek crisis have ended in failure. For once, there has been no 11th hour fudge. After years of kicking the can down the road, the end has been reached.

In Athens, tourists out for an early look at the Parthenon find they can no longer get euros out of the cash machines. Contingency plans have been triggered to prevent a run on the banks. Strict capital controls are in force.

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