"Lehman Weekend" Looms For Greece As Europe Readies "Emergency" Sunday Meeting | WHAT REALLY HAPPENED

"Lehman Weekend" Looms For Greece As Europe Readies "Emergency" Sunday Meeting

Tsipras had effectively resubmitted Greece’s previous proposal (i.e. a proposal that did not include concessions on a VAT hike or pension cuts) only this time, he included a second document that outlined how Athens hoped to tap leftover bank recap funds from the EFSF and bailout money from the ESM. Greece took that same proposal to Brussels over the weekend and it didn’t fly there either, leaving Europe to wonder just how far Tsipras was willing to go with the brinksmanship.

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