Defiant Greeks force Europe to negotiating table as time-bomb ticks

EMU creditors have Greece’s Alexis Tsipras by the scruff of the neck, but he has a knife to their throats

Europe’s creditor powers have started to wobble. Berlin, Paris and Brussels are coming to the grim conclusion that Greece may not capitulate as expected, and time is running out fast.

Athens is now warning openly that the “moment of truth” will come on June 5, when the country faces default on a €300m payment to the International Monetary Fund, unless the EU authorities hand over the next tranche of bail-out cash. Continue reading