The Economist response the Tuesday's Europe meeting on Greece:
- Donald Tusk, the president of the European Council ... declared that only five days remained to find common ground
- Jean-Claude Juncker, president of the European Commission ... thumped his lectern before declaring that the government of Alexis Tsipras had until 8.30am on Friday to produce a list of reforms it would commit to in exchange for a third bail-out programme.
- Grexit now appears to be the default position of most euro-zone leaders
- All 28 of the European Union's heads of government... will meet on Sunday to discuss a humanitarian aid package that could be assembled from the EU budget, should Greece fall out of the euro and into what Mr Tusk called a "black scenario"
- Mr Tsipras in an extremely tight spot, perhaps an impossible one
- The possibility of Grexit ... now feels imminent
- Mr Juncker said last night that the commission had a fully realised plan for a Greek departure from the euro; an official later said it was about an inch thick
- "This is one of the most critical issues in the history of the EU," said Mr Tusk last night. He is not a man given to hyperbole.
The Economist article is here, gated:
Bitter cup
