Eurozone may be only days away from fracturing
If Greece cannot reach a deal with the EU and the IMF in the coming days, the country will default on its debts, failing to make repayments to its emergency lenders.
If that happens, it will almost certainly lead to Greece crashing out of the euro, as its banks collapse without European support.
For months, Europe has been talking about Greece approaching a crunch point.
But that crunch point is now here. Greece’s bailout ends on June 30. Unless agreement is reached on an extension, the last tranche of funding – some €7.2 billion – will not be released by the troika.
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