No Extension to Greek Bailout after June 30, Eurogroup Says

World » EU | June 27, 2015, Saturday // 18:46
Bulgaria: No Extension to Greek Bailout after June 30, Eurogroup Says Eurozone finance ministers have told Greek counterpart Yanis Varoufakis (R) the current bailout program will be in place by June 30. Photo by EPA/BGNES

Eurozone Finance Ministers have turned down a request by Greece to continue its bailout program beyong June 30.

Tensions between Greece and the rest of the Eurozone soared after PM Alexis Tsipras called in a referendum on July 5 so that Greeks have their final say on the international lenders' latest bailout proposal.

The Eurozone has been one of the three creditors of Greece as the country is still grappling with a debt crisis and its impact on the economy and society.

If Greece does not pay a loan installment by June 30 it is facing default and possibly and exit from the single-currency area.

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Tags: Eurozone, Eurogroup, greece
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