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27 Jun 2015
Eurogroup to discuss alternatives other than bailout, rejects bailout extension
FXStreet (Córdoba) - Eurozone finance ministers said they would start discussing alternatives other than bailout aid for Greece, after Greek government called a referendum on the programme.
Greek FinMin Yanis Varoufakis said he will ask a bailout extension for a few weeks to carry the country through the July 5 vote. However, latest headlines coming from Brussels suggest the Eurogroup has rejected this request.
Greece's bailout programme ends on June 30 when Athens also faces a €1.6 billion payment to the IMF. Immediate focus is on Greek banks as uncertainty has kept depositors withdrawing large amounts of cash over the last weeks.
Many officials now expect Greece to introduce capital controls, possibly as soon as this weekend.
Greek FinMin Yanis Varoufakis said he will ask a bailout extension for a few weeks to carry the country through the July 5 vote. However, latest headlines coming from Brussels suggest the Eurogroup has rejected this request.
Greece's bailout programme ends on June 30 when Athens also faces a €1.6 billion payment to the IMF. Immediate focus is on Greek banks as uncertainty has kept depositors withdrawing large amounts of cash over the last weeks.
Many officials now expect Greece to introduce capital controls, possibly as soon as this weekend.