Greece misses IMF payment, plunges into uncertainty

Greece officially missed a payment to the International Monetary Fund (IMF) and saw its bailout expire on Tuesday (30 June), capping a fortnight of tumultuous politics.rings by the Greek government to get better terms from creditors.

The developments leave Athens without international support for the first time since 2010 and facing a referendum that some EU politicians say will determine its future in the eurozone.

Greece is now in “arrears” on an €1.5 billion bill, the IMF said at midnight Brussels time – a status which sees the EU and Nato member join the ranks of Cuba and Zimbabwe.

Tuesday also saw the country’s EU-IMF bailout run out despite last minute manouve

Euro finance ministers are due to talk at 5.30pm Brussels time on Wednesday about the Greek PM’s, Alexis Tsipras’, last-minute call for a third rescue package.

“We won’t negotiate about anything new at all until a referendum, as planned, takes place,” said the German chancellor Angela Merkel. “This evening the programme expires.”

Merkel also plans to address the Bundestag at 1pm local time on Wednesday.

But despite her tough words, the events are a major political blow to the eurozone, whose foundation is based on the irrevocability of the single currency. They’re also a blow for the EU as a whole, which has been trying to find a solution to the Greece crisis for five years.

Full article: Greece misses IMF payment, plunges into uncertainty (EU Observer)

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