Summary

  • Eurozone finance ministers turn down request by Greek government to extend bailout programme, due to end on Tuesday

  • Greek PM Alexis Tsipras calls referendum on 5 July, asking Greek people to reject terms of international creditors

  • Greece faces €1.5bn debt repayment to International Monetary Fund on 30 June

  • Failure to pay would push Greece towards default

Live Reporting

Paul Kirby and Patrick Jackson

  1. Nerves on the streets of Athens

    Joe Miller, BBC News, Athens

    Anxiety is mounting in Athens. "Everybody's really scared," Elena, a woman in her 20s, tells me as she waits to withdraw cash. "We need to have enough money to last the week." Read more . 

  3. Greek Finance Minister Yanis Varoufakis speaking to reporters in Brussels, 27 JuneReuters

    Greek Finance Minister Yanis Varoufakis speaking to reporters in Brussels

  4. 'Whatever is necessary'

    "The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area": read the full text of the Eurogroup statement on Greece.   

  5. 'Permanent damage'

    The Greek finance minister went on to warn of lasting damage: "The refusal of the Eurogroup today to endorse our request for an extension for a few days, a couple of weeks, to allow the Greek people to deliver their verdict... that refusal will damage the credibility of the Eurogroup, and I'm very much afraid that damage will be permanent."

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  6. "Not about the euro"

    Greek finance minister told reporters the referendum on 5 July was "not about the euro and could never be about the euro".  

    He said: "There are no provisions for exit from monetary union. There are provisions after the Lisbon Treaty for exit from the European Union but not from the euro." 

  7. Greek Finance Minister

    As he left the eurozone ministers' meeting Yanis Varoufakis told reporters it was "a sad day for Europe".