Financial future of Greece hangs in the balance

Jun 30, 2015

Financial future of Greece hangs in the balance

Matt Bracken 0 Comment The Baltimore Sun, World Greece

Greece’s European creditors were assessing a last-minute proposal Athens made for a new two-year rescue deal, submitted just hours before the country’s international bailout program expires and it loses access to billions of euros in funds.

: A demonstrator shouts slogans as the sticker on her cheek reading ”YES to Greece, Yes to Euro” during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: A pro-Euro protester holds a flag reading ‘ YES to Greece in front of the parliament building in Athens on June 30, 2015. (LOUISA GOULIAMAKI/AFP/Getty Images)

: Greece’s Finance Minister Yanis Varoufakis, left, is greeted by a woman as he leaves from his office in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: A man walks past European and Greek flags in central Athens, on Tuesday, June 30, 2015. (AP Photo/Petros Giannakouris)

: Demonstrators gather during a rally organized by supporters of the YES vote to the upcoming referendum, at Syntagma square in Athens, Tuesday, June 30, 2015. (AP Photo/Thanassis Stavrakis)

: European Commission President Jean-Claude Juncker stands in front of a poster of the EU flag in his office at EU headquarters in Brussels on Tuesday, June 30, 2015. Juncker made a last-minute offer to Greece on Monday. Under that proposal, Tsipras would need to write to Juncker and other leaders saying he accepts the latest creditors’ offer. He would also have to change his position on Sunday’s referendum. (AP Photo/Virginia Mayo)

: A man paints a boat at the Perama’s Shipyards near Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: Demonstrators gather during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: Demonstrators shout slogans during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: Pro-Euro protesters argue with riot police, preventing them to go up towards the parliament building in Athens on June 30, 2015. Thousands of people rallied in Athens Tuesday in support of a bailout deal with international creditors which has been rejected by Prime Minister Alexis Tsipras, leaving Greece on the brink of default. (LOUISA GOULIAMAKI/AFP/Getty Images)

: Demonstrators hold Greek flags during a rally organized by supporters of the YES vote to the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: Demonstrators shout slogans during a rally organized by supporters of the YES vote to the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: A demonstrator holds a placard depicting Yes to euro, No to drachma during a rally organized by supporters of the YES vote to the upcoming referendum in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: Demonstrators hold a European Union flag during a rally organized by supporters of the YES vote for the upcoming referendum in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: Demonstrators gather under the rain during a rally organized by supporters of the YES vote to the upcoming referendum, at Syntagma Square in Athens, Tuesday, June 30, 2015. (AP Photo/Thanassis Stavrakis)

: A man holds coins as he prepares to buy Greek flags during a rally organized by supporters of the YES vote to the upcoming referendum in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: Demonstrators hold a giant European Union flag with the word ”YES” on it during a rally organized by supporters of the YES vote to the upcoming referendum in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: A demonstrator gestures to a man as he holds Greek flag during a rally organized by supporters of the YES vote to the upcoming referendum in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: People walk past the shutters of a closed bank in central Athens on Tuesday, June 30, 2015. (AP Photo/Petros Giannakouris)

: An abandoned boat rests in the streets of Perama near Athens, Tuesday, June 30, 2015. Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its payment due later to the International Monetary Fund. (AP Photo/Daniel Ochoa de Olza)

: A worker mops his face with a towel as he works on a cargo boat at the Perama’s Shipyards near Athens, Tuesday, June 30, 2015. Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its payment due later to the International Monetary Fund. Capital controls began Monday and will last at least a week, an attempt to keep the banks from collapsing in the face of a nationwide bank run.(AP Photo/Daniel Ochoa de Olza)

: A demonstrator holds a European Union and Greek flag during a rally by supporters of the YES vote to the upcoming referendum, at Syntagma Square in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: A worker pushes a drum at the Perama’s Shipyards near Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: The word “NO”, referring to the upcoming referendum, is written in red paint outside the Athens Academy building on Tuesday, June 30, 2015. (AP Photo/Petros Giannakouris)

: Greece’s Finance Minister Yanis Varoufakis is surrounded by media as he leaves from his office in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: A woman passes by posters for the NO vote in the upcoming referendum, in central Athens, on Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: Men use the ATM outside of a closed bank five days before the upcoming referendum, in central Athens, on Tuesday, June 30, 2015. (AP Photo/Petros Karadjias)

: A man holds a European Union flag during a rally by supporters of the YES vote to the upcoming referendum, at Syntagma Square in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: A man lowers the shutters of his clothes shop as at the background shutters are painted the Euro and the US dollar sign in central Athens on Tuesday, June 30, 2015. (AP Photo/Petros Giannakouris)

: Consumers shop at a supermarket in the northern Greek port city of Thessaloniki, Tuesday, June 30, 2015. (AP Photo/Giannis Papanikos)

: A construction worker digs a sidewalk as a man looks at the front store of a shop in the northern Greek port city of Thessaloniki, Tuesday, June 30, 2015. (AP Photo/Giannis Papanikos)

: A man sells Greek and European Union flags during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

: An expired parking meter is seen across the street from one of the headquarter buildings of the International Monetary Fund on June 30, 2015 in Washington, DC. Greece confirmed it would fail to make a key IMF repayment due on Tuesday, fanning fears of a chaotic eurozone exit on the same day the country’s international bailout expires. (BRENDAN SMIALOWSKI/AFP/Getty Images)

: People walk past the headquarters of the International Monetary Fund June 30, 2015 in Washington, DC. Greece confirmed it would fail to make a key IMF repayment due on Tuesday, fanning fears of a chaotic eurozone exit on the same day the country’s international bailout expires. (BRENDAN SMIALOWSKI/AFP/Getty Images)

: Pro-Euro protesters argue with riot police, preventing them to go up towards the parliament building in Athens on June 30, 2015. (LOUISA GOULIAMAKI/AFP/Getty Images)

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