Greece slides closer to eurozone abyss

Alexis Tsipras, prime minister of Greece: the Balkan country is on the brink of exiting the single currency this weekend. Picture: Getty

Emergency preparations are under way across Europe this weekend for a Greek default and exit from the eurozone, following the failure of efforts to reach a last ditch agreement in Brussels yesterday.

Talks among finance ministers ended abruptly in Brussels early yesterday afternoon after the Greek government announced that it would hold a referendum on a fresh bailout next Sunday. Greek prime minister Alexis Tsipras made it clear that his party Syriza would ...