German Chancellor Angela Merkel and French President Francois Hollande made a final attempt, on 26 June, to convince Greek Prime Minister Alexis Tsipras to accept the international creditors’ cash-for-reforms offer.
The package is seen as an ultimatum. Failure by Athens to agree to this offer would mean that the country would be unable to repay an International Monetary Fund loan on 30 June and thereby to avert a bank run.
The EU-IMF proposal includes a five-month extension (until end-November) of…