Greece says bailout deal is up to troika amid speculation over exit from EU

Source: The Guardian

Greece has put the onus on its creditors to prevent it being forced out of the single currency, warning that an economic collapse on a par with the Great Depression of the 1930s had left it broke and unable to pay its debts.

Athens announced on Wednesday that it had run out of money, and would not be able to pay €1.6bn (£1.15bn) owed to the International Monetary Fund (IMF) at the end of this month, on the eve of a meeting of eurozone finance ministers. The meeting is seen as the last realistic chance of striking a deal before Greece’s current bailout runs out in 12 days’ time.

The warning came as the governor of the Greek central bank said that Greece was on the brink of an “uncontrollable crisis” and warned that leaving the eurozone would also mean “exit … most likely from the European Union”. But the chances of a breakthrough on Thursday’s talks, in an increasingly hostile negotiating environment, were seen as remote.
...
Martin Schulz, president of the European parliament, told the Guardian in an interview that there was no legal avenue for expelling a country from the eurozone and that dropping out of the 19-country eurozone would mean no longer being in the 28-country European Union.



Read more: http://www.theguardian.com/world/2015/jun/17/greece-says-bailout-deal-is-up-to-troika-amid-speculation-over-exit-from-eu