Greek drama escalates
The world has been holding its breath during the negotiations between Greece and the European Union to release the last tranche of bail-out money before the current bail-out plan expires at the end of this month. After promising signs of Greece and Europe clinching a deal, dramatic events followed. Creditors rejected what appeared to be a reasonable offer from the Greek government and made a counter-proposal of its own. In a dramatic move, the Greek government announced on Friday that they would call a referendum that will take place on 5 July.