A crucial meeting of eurozone finance ministers over the future of Greece’s bailout broke down in acrimony after Athens angrily objected to the bloc’s insistence that it extend its current €172bn rescue, calling it “absurd” and “unacceptable”.
It is the second time in five days that negotiations between the new anti-austerity Greek government and its eurozone creditors have collapsed and it means Athens, whose public finances are deteriorating fast, could soon be left with no European financial backstop.
Jeroen Dijsselbloem, chairman of the eurogroup of finance ministers, said the time available for a Greek request was almost out: “We can use this week, but that’s about it,” he said. “There was a very strong opionion across the eurogroup that the next step has to come from the Greek authorities,” he added.