Alexis Tsipras, the Greek prime minister, vowed not to give in to demands made by his country’s global creditors, accusing them of “pillaging” Greece for the past five years and insisting it was now up to them to propose a rescue plan to save Athens from bankruptcy.
Mr Tsipras’s remarks came less than 24 hours after the collapse of last-ditch talks aimed at reaching agreement on the release of €7.2bn in desperately-needed rescue funds. They were part of a chorus of defiance in Athens that left many senior EU officials convinced they can no longer clinch a deal with Greece to prevent it from crashing out of the eurozone.
Without a deal to release the final tranche of Greece’s current bailout, Athens is likely to default on a €1.5bn loan repayment due to be paid to the International Monetary Fund in two weeks’ time, an event officials fear would set off a financial chain reaction from which Greece would be unable to recover.