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You can find the current article at its original source at http://www.theguardian.com/world/live/2015/jul/07/greek-debt-crisis-alex-tsipras-seeks-last-chance-deal-live
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| Greek debt crisis: Tsipras gets ultimatum to reach deal or face Grexit - as it happened | Greek debt crisis: Tsipras gets ultimatum to reach deal or face Grexit - as it happened |
| (30 days later) | |
| 12.37am BST | 12.37am BST |
| 00:37 | 00:37 |
| OK, that really is all for today. | OK, that really is all for today. |
| Do check out my most recent summary, after a dramatic evening in which Greece was given just five days to reach a deal or face exit from the Euro. | Do check out my most recent summary, after a dramatic evening in which Greece was given just five days to reach a deal or face exit from the Euro. |
| Here’s Ian Traynor’s take: | Here’s Ian Traynor’s take: |
| Related: Greece given deadline to avoid banking collapse and euro exit | Related: Greece given deadline to avoid banking collapse and euro exit |
| Here’s how other news outlets are reporting it: | Here’s how other news outlets are reporting it: |
| Greece gets five-day deadline to avoid euro exit. Last @AFP wrap after dramatic day http://t.co/IoJhU9mS46 pic.twitter.com/9rPdO1dZUL | Greece gets five-day deadline to avoid euro exit. Last @AFP wrap after dramatic day http://t.co/IoJhU9mS46 pic.twitter.com/9rPdO1dZUL |
| Five days to save the eurozone from disaster warn leaders after Greek talks fail http://t.co/zhiftaJiG9 | Five days to save the eurozone from disaster warn leaders after Greek talks fail http://t.co/zhiftaJiG9 |
| After tonite's summit, seems #Grexit may be days away. I'm shutting down. Final story of the night just posted here: http://t.co/20bqXPQMwx | After tonite's summit, seems #Grexit may be days away. I'm shutting down. Final story of the night just posted here: http://t.co/20bqXPQMwx |
| We’ll be back on Wednesday morning. Thanks for reading, and for your help. Goodnight! GW | We’ll be back on Wednesday morning. Thanks for reading, and for your help. Goodnight! GW |
| 12.27am BST | 12.27am BST |
| 00:27 | 00:27 |
| The final moment of truth is approaching quickly for Greek Prime Minister Alexis Tsipras, says analyst Wolf Piccoli of Teneo Intelligence. | The final moment of truth is approaching quickly for Greek Prime Minister Alexis Tsipras, says analyst Wolf Piccoli of Teneo Intelligence. |
| Athens has until Sunday to agree with its lenders on a credible reform agenda so as to start negotiations for a new ESM program and potentially some bridge financing until talks are concluded and parliamentary sign-off has been achieved. | Athens has until Sunday to agree with its lenders on a credible reform agenda so as to start negotiations for a new ESM program and potentially some bridge financing until talks are concluded and parliamentary sign-off has been achieved. |
| If the Sunday deadline is missed, Grexit will materialize. | If the Sunday deadline is missed, Grexit will materialize. |
| 12.03am BST | 12.03am BST |
| 00:03 | 00:03 |
| We have the best readers in the business, I tell you. | We have the best readers in the business, I tell you. |
| Regular contributor equusmulusoctopus has kindly translated Alexis Tsipras’s statement into English, after I posted the Greek video here. | Regular contributor equusmulusoctopus has kindly translated Alexis Tsipras’s statement into English, after I posted the Greek video here. |
| ATL: Here’s a videoclip of Alexis Tsipras’s statement following tonight’s summit (no English translation, sorry) | ATL: Here’s a videoclip of Alexis Tsipras’s statement following tonight’s summit (no English translation, sorry) |
| Here's the translation: | Here's the translation: |
| The Greek government has submitted today, to the eurogroup as well as to the summit of eurozone leaders, the Greek proposals, such as they have been formed as a national strategy, by yesterday's conference of the political leaders. Fundamental goal is an agreement which is socially just and economically sustainable for Greece, and also for the eurozone. This framework includes credible reforms with social justice as the criterion, includes on the other hand in return a committement to an adequate covering of the financial needs of the country in the medium term, a strong investment package, a package of investments to cope with the big problems, mainly the problem of unemployment, as well as the initiation of a meaningful discussion on the necessary restructuring of the debt. | The Greek government has submitted today, to the eurogroup as well as to the summit of eurozone leaders, the Greek proposals, such as they have been formed as a national strategy, by yesterday's conference of the political leaders. Fundamental goal is an agreement which is socially just and economically sustainable for Greece, and also for the eurozone. This framework includes credible reforms with social justice as the criterion, includes on the other hand in return a committement to an adequate covering of the financial needs of the country in the medium term, a strong investment package, a package of investments to cope with the big problems, mainly the problem of unemployment, as well as the initiation of a meaningful discussion on the necessary restructuring of the debt. |
| The discussion took place in a positive atmosphere, the procedure will be fast, it will be very rapid, it is beginning in the next hours, with the goal of having reached a result by the end of the week at the latest. | The discussion took place in a positive atmosphere, the procedure will be fast, it will be very rapid, it is beginning in the next hours, with the goal of having reached a result by the end of the week at the latest. |
| [Unintelligible question from journo about Grexit. Possibly "They talk about Grexit"] | [Unintelligible question from journo about Grexit. Possibly "They talk about Grexit"] |
| The Greek side will continue the effort having as a strong weapon the verdict of the Greek people which was clear, the will of the overwhelming majority of the Greek people for a viable agreement that will put an end to this discussion, to which you just referred, once and for all, and will give a prospective of a definite end to the crisis. I am glad, ehm, to say, that by the statements of my colleagues I realise that they all understand, that we do not have a Greek problem, but a European problem to which we are called to give a solution to all together, with responsibility. Thank you very much. | The Greek side will continue the effort having as a strong weapon the verdict of the Greek people which was clear, the will of the overwhelming majority of the Greek people for a viable agreement that will put an end to this discussion, to which you just referred, once and for all, and will give a prospective of a definite end to the crisis. I am glad, ehm, to say, that by the statements of my colleagues I realise that they all understand, that we do not have a Greek problem, but a European problem to which we are called to give a solution to all together, with responsibility. Thank you very much. |
| We couldn’t manage without you all. | We couldn’t manage without you all. |
| 12.00am BST | 12.00am BST |
| 00:00 | 00:00 |
| Another long night for the Brussels press pack: | Another long night for the Brussels press pack: |
| Leaving #eurosummit where Greece was set deadline of five days to agree deal or #grexit pic.twitter.com/B4hFRfED6Q | Leaving #eurosummit where Greece was set deadline of five days to agree deal or #grexit pic.twitter.com/B4hFRfED6Q |
| 11.58pm BST | 11.58pm BST |
| 23:58 | 23:58 |
| Jill Treanor | Jill Treanor |
| Alistair Darling, the former Chancellor of the Exchequer, told bankers assembled in the Mansion House tonight that the situation in Greece could have repercussions for the UK’s continued membership of the European Union. | Alistair Darling, the former Chancellor of the Exchequer, told bankers assembled in the Mansion House tonight that the situation in Greece could have repercussions for the UK’s continued membership of the European Union. |
| “The longer this goes on, [given] the signals it sends to the world about the eurozone and the European Union ...the more risk is the contagion will spread” on both political and economic terms, said Darling, adding: | “The longer this goes on, [given] the signals it sends to the world about the eurozone and the European Union ...the more risk is the contagion will spread” on both political and economic terms, said Darling, adding: |
| “People might think this isn’t a great success ... and we may be tempted when we have our referendum ... to say that we may want to leave”. | “People might think this isn’t a great success ... and we may be tempted when we have our referendum ... to say that we may want to leave”. |
| Speaking at the annual dinner of the British Bankers’ Association, he urged campaigners in the UK’s referendum not to dwell on migration. | Speaking at the annual dinner of the British Bankers’ Association, he urged campaigners in the UK’s referendum not to dwell on migration. |
| Darling was a key figure in the Scottish referendum but stood down as an MP at the general election. He urged business leaders to speak out Europe; they were slow to do so in the Scottish referendum. | Darling was a key figure in the Scottish referendum but stood down as an MP at the general election. He urged business leaders to speak out Europe; they were slow to do so in the Scottish referendum. |
| And ahead of the budget on Wednesday where there is speculation that George Osborne may signal a review of the bank levy, Darling told the bankers: | And ahead of the budget on Wednesday where there is speculation that George Osborne may signal a review of the bank levy, Darling told the bankers: |
| “The Chancellor needs money. (The industry) is an easy place to go”. | “The Chancellor needs money. (The industry) is an easy place to go”. |
| 11.52pm BST | 11.52pm BST |
| 23:52 | 23:52 |
| Donald Tusk didn’t just blame Greece for the crisis, points out my colleague Ian Traynor. | Donald Tusk didn’t just blame Greece for the crisis, points out my colleague Ian Traynor. |
| #greece funny thing is @eucopresident is having a go at merkel et al too | #greece funny thing is @eucopresident is having a go at merkel et al too |
| As covered here, Tusk spoke of ‘All sides of the negotiations’ sharing responsibility for this mess. | As covered here, Tusk spoke of ‘All sides of the negotiations’ sharing responsibility for this mess. |
| 11.19pm BST | 11.19pm BST |
| 23:19 | 23:19 |
| Summary: It's deal or Grexit | Summary: It's deal or Grexit |
| We’ve seen so many deadlines come and go since the Greek debt crisis began. But tonight, I really believe we’re rattling towards a crucial decision. | We’ve seen so many deadlines come and go since the Greek debt crisis began. But tonight, I really believe we’re rattling towards a crucial decision. |
| Europe has given Athens one last chance to produce a credible economic reform plan that could underpin a new bailout. It has also threatened that Greece will leave the eurozone if it doesn’t comply before Sunday, when a new emergency summit will be held. | Europe has given Athens one last chance to produce a credible economic reform plan that could underpin a new bailout. It has also threatened that Greece will leave the eurozone if it doesn’t comply before Sunday, when a new emergency summit will be held. |
| Speaking after tonight’s eurozone summit, European Council president Donald Tusk warned gravely that the next five days are the most critical in the European Union’s history. | Speaking after tonight’s eurozone summit, European Council president Donald Tusk warned gravely that the next five days are the most critical in the European Union’s history. |
| He has called all 28 European leaders to Brussels on Sunday, which could be the moment that Greece begins to leave the Euro. | He has called all 28 European leaders to Brussels on Sunday, which could be the moment that Greece begins to leave the Euro. |
| Tusk warned: | Tusk warned: |
| Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system. And for sure, it will be most painful for the Greek people. | Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system. And for sure, it will be most painful for the Greek people. |
| I have no doubt that this will affect all of Europe, also in the geo-political sense. | I have no doubt that this will affect all of Europe, also in the geo-political sense. |
| If someone has any illusion that it will not be so, they are naive. | If someone has any illusion that it will not be so, they are naive. |
| The stark reality is that only have five days to find the ultimate agreement. | The stark reality is that only have five days to find the ultimate agreement. |
| Famous last words, but of all the supposed final deadlines thrown down by the Eurogroup, this one does seem like the most final #Greece | Famous last words, but of all the supposed final deadlines thrown down by the Eurogroup, this one does seem like the most final #Greece |
| Commission president Jean-Claude Juncker revealed that Europe now has a “detailed” Grexit plan, suggesting a serious risk that Greece’s membership of the single currency is in doubt. | Commission president Jean-Claude Juncker revealed that Europe now has a “detailed” Grexit plan, suggesting a serious risk that Greece’s membership of the single currency is in doubt. |
| Juncker said: | Juncker said: |
| I am strongly against Grexit but I can’t prevent it unless the Greek government do what they need to do. We have a Grexit scenario prepared in detail; we have a scenario as far as humanitarian aid is concerned.” | I am strongly against Grexit but I can’t prevent it unless the Greek government do what they need to do. We have a Grexit scenario prepared in detail; we have a scenario as far as humanitarian aid is concerned.” |
| Juncker never watched Fight-club then? | Juncker never watched Fight-club then? |
| A series of other eurozone leaders have added their weight to Tusk’s warning. | A series of other eurozone leaders have added their weight to Tusk’s warning. |
| French President Francois Hollande said. | French President Francois Hollande said. |
| “It’s not just the problem of Greece [at stake], it’s the future of the European Union” | “It’s not just the problem of Greece [at stake], it’s the future of the European Union” |
| Italy’s Mattei Renzi said he was “not pessimistic” of a deal, adding: | Italy’s Mattei Renzi said he was “not pessimistic” of a deal, adding: |
| “We’ll see if on Sunday this issue will be solved once and for all,” | “We’ll see if on Sunday this issue will be solved once and for all,” |
| But Germany’s Angela Merkel warned that Greece has not yet done enough to begin talks about a new bailout. Sunday’s summit has been called, she said, “because we think the situation is so dangerous”. | But Germany’s Angela Merkel warned that Greece has not yet done enough to begin talks about a new bailout. Sunday’s summit has been called, she said, “because we think the situation is so dangerous”. |
| Alexis Tsipras, the Greek PM who arrived in Brussels with the backing of most Greek political parties, now faces the unpalatable option of signing up to a deal similar to the one that was rejected by the Greek people on Sunday. | Alexis Tsipras, the Greek PM who arrived in Brussels with the backing of most Greek political parties, now faces the unpalatable option of signing up to a deal similar to the one that was rejected by the Greek people on Sunday. |
| Tsipras remained optimistic, though, telling reporters: | Tsipras remained optimistic, though, telling reporters: |
| “The discussion was held in a positive atmosphere. The process will be fast, it starts in the coming hours with the aim of concluding it by the end of the week, at the latest. | “The discussion was held in a positive atmosphere. The process will be fast, it starts in the coming hours with the aim of concluding it by the end of the week, at the latest. |
| “The Greek side will continue the effort, having the strong weapon of the Greek people’s verdict ... the vast majority’s will for a viable agreement to end the discussion (about a Grexit) and offer the prospect of finally exiting the crisis.” | “The Greek side will continue the effort, having the strong weapon of the Greek people’s verdict ... the vast majority’s will for a viable agreement to end the discussion (about a Grexit) and offer the prospect of finally exiting the crisis.” |
| Earlier in the evening Tsipras had presented his case for a new bailout to EU leaders, raising hopes that a deal was still possible. It still is, but the consequences of failure have never been quite this clear. | Earlier in the evening Tsipras had presented his case for a new bailout to EU leaders, raising hopes that a deal was still possible. It still is, but the consequences of failure have never been quite this clear. |
| So what happens next? | So what happens next? |
| On Wednesday morning, Greece must resubmit a modified bailout request to the Eurogroup of finance ministers. They will then discuss it on a conference call. | On Wednesday morning, Greece must resubmit a modified bailout request to the Eurogroup of finance ministers. They will then discuss it on a conference call. |
| And Tsipras is due to appear before the European Parliament on Wednesday morning, at 9am Brussels time (8am BST). | And Tsipras is due to appear before the European Parliament on Wednesday morning, at 9am Brussels time (8am BST). |
| And the political reaction in Athens will also be crucial. | And the political reaction in Athens will also be crucial. |
| Updated | Updated |
| at 11.53pm BST | at 11.53pm BST |
| 10.54pm BST | 10.54pm BST |
| 22:54 | 22:54 |
| Here’s a videoclip of Alexis Tsipras’s statement following tonight’s summit (no English translation, sorry) | Here’s a videoclip of Alexis Tsipras’s statement following tonight’s summit (no English translation, sorry) |
| Δήλωση μετά το τέλος της σημερινής Συνόδου Κορυφής. #EUsummit #Greece https://t.co/8bTRhUKaTy | Δήλωση μετά το τέλος της σημερινής Συνόδου Κορυφής. #EUsummit #Greece https://t.co/8bTRhUKaTy |
| 10.47pm BST | 10.47pm BST |
| 22:47 | 22:47 |
| There is a glimmer of a possibility that Sunday’s summit may yet be cancelled, from the leaders of Luxembourg and Austria: | There is a glimmer of a possibility that Sunday’s summit may yet be cancelled, from the leaders of Luxembourg and Austria: |
| #Luxembourg's Bettel: Sunday summit may be avoided if #Greece offers good plan. (BBG) | #Luxembourg's Bettel: Sunday summit may be avoided if #Greece offers good plan. (BBG) |
| Faymann: We will have clarity on Saturday if Sunday's #EUCO will go ahead. (IE the #Grexit Summit) | Faymann: We will have clarity on Saturday if Sunday's #EUCO will go ahead. (IE the #Grexit Summit) |
| That also suggests, though, that if the Summit does go ahead, it will be to discuss Greece’s exit from the single currency. | That also suggests, though, that if the Summit does go ahead, it will be to discuss Greece’s exit from the single currency. |
| 10.45pm BST | 10.45pm BST |
| 22:45 | 22:45 |
| The Austrian leader also criticised Tsipras’s decision to call a referendum on Sunday: | The Austrian leader also criticised Tsipras’s decision to call a referendum on Sunday: |
| Faymann: No a single person today said that the #Greferendum made the situation easier. #Greece | Faymann: No a single person today said that the #Greferendum made the situation easier. #Greece |
| Faymann: Europe is known for compromises. Renegotiation until the last minute. Greece didn't do this when it walked out of negotation. | Faymann: Europe is known for compromises. Renegotiation until the last minute. Greece didn't do this when it walked out of negotation. |
| 10.44pm BST | 10.44pm BST |
| 22:44 | 22:44 |
| Austria’s chancellor, Walter Faymann, has warned that Sunday’s summit will talk about Plan B (ie, Grexit), unless there is a deal by then. | Austria’s chancellor, Walter Faymann, has warned that Sunday’s summit will talk about Plan B (ie, Grexit), unless there is a deal by then. |
| Leader will also have to provide humanitarian aid for the poorest in Greece if a deal isn’t reached, he adds. | Leader will also have to provide humanitarian aid for the poorest in Greece if a deal isn’t reached, he adds. |
| Faymann also warns that the situation in Greek bank reserves is “serious”, and said that leaders can’t discuss writing off some Greek debt. | Faymann also warns that the situation in Greek bank reserves is “serious”, and said that leaders can’t discuss writing off some Greek debt. |
| Faymann: I don't know about the state of Greek bank reserves. But the situation is serious. #Greece | Faymann: I don't know about the state of Greek bank reserves. But the situation is serious. #Greece |
| Faymann: Debt is of course an issue. A haircut is not the table - but we could have taken about extending maturities. #Greece | Faymann: Debt is of course an issue. A haircut is not the table - but we could have taken about extending maturities. #Greece |