The Traderszone Network

Published in TZ Latest News 6 July, 2015 by The TZ Newswire Staff

Greece faces last chance to stay in euro as cash runs out

BRUSSELS/ATHENS (Reuters) – Greece faces a last chance to stay in the euro zone on Tuesday when Prime Minister Alexis Tsipras puts proposals to an emergency euro zone summit after Greek voters resoundingly rejected the austerity terms of a defunct bailout. With Greek banks rapidly running out of cash and the European Central Bank slowly tightening the noose on their funding, Tsipras must persuade the bloc’s other 18 leaders, many of whom are exasperated after five years of Greek crisis, to open rapid negotiations for a major new loan to rescue his country.