Final deadline, as EU prepares for Grexit

The Greek government has been given a “final deadline” until the end of the week to present a proposal of reforms, ahead of a meeting of all 28 EU leaders in Brussels on Sunday (12 July).

But in a sign of the general pessimism following Tuesday's meeting of euro leaders, the European Commission said it already has plans for how to deal with a Greek exit from the eurozone.

“We have a Grexit scenario prepared in detail”, said commission head Jean-Claude Juncker, although he added th...