Bloomberg: Creditors give Greece a 24-hour ultimatum

Diplomatic niceties evaporate in the face of economic hardball

Greece was told to stop fighting creditors demands and sign a deal to avert a default. European Union President Donald Tusk rebuked Prime Minister Alexis Tsipras for stalling in reaching a debt agreement, whereas the International Monetary Fund walked out of talks showing that diplomatic niceties have evaporated.

Worst yet, Greece was given less than 24 hours to come up with firm proposals to end the impasse late on Thursday during a meeting with euro-area government officials. Sources state that euro-area officials are preparing for the possibility of a Grexit.

“There’s no more time for gambling,” said Tusk. “The day is coming, I am afraid that someone says the game is over for Greece.”