Greece Calls Emergency Meeting as on ‘brink of disaster’

Greece’s Prime Minister Alexis Tsipras is to hold an emergency government meeting at midday London time to discuss the failure of the latest round of discussions with its creditors to help stop the country tumbling into bankruptcy.

Tsipras will meet with Deputy Prime Minister Yannis Dragasakis, State Minister Nikos Pappas and Alternative Foreign Minister for International Economic Relations Euclid Tsakalotos in the wake of the breakdown of negotiations in Brussels at the weekend, a government spokesman confirmed.

On Monday, European stocks fell as talks between Greece and creditors fell apart over the weekend.  Talks between Greece and its creditors over the weekend yet again failed to resolve the impasse over reforms, with European officials blaming Greece for failing to offer concessions in return for a final tranche of desperately-needed financial aid.