At home, Merkel’s challenges in winning support for any kind of accommodation with Greece are personified by her finance minister, Wolfgang Schauble.
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“It is “No” vote of freedom, of rebellion against European “diktats” of those who want to impose the single currency at any price, through the most inhuman and counter-productive austerity”, she said in a statement.
The Greek bank association chief said an eight-day-old bank closure that has crippled the economy will continue on Tuesday and Wednesday and the daily cash machine withdrawal limit of 60 euros would be maintained.
But an European Central Bank governing council member, Ewald Nowotny, held out the possibility of bridge funding for Greece while a new bailout programme is being negotiated.
In his statement, Mr Dijsselbloem said the result of the referendum was “very regrettable for the future of Greece”.
“We must have a policy that’s a little bit braver to enable Greece to survive and to allow Europe to correct its defects”, said France’s Socialist party boss Jean-Christophe Cambadélis.
BERLIN: The German government signaled a tough line toward Greece Monday, saying it saw no basis for new bailout negotiations and insisting it was up to Athens to move swiftly if it wanted to preserve its place in the eurozone.
“It is up to Greece to make something of this”.
Mrs Merkel is to meet French President Francois Hollande in Paris on Monday.
“There is a big risk that this will end up very badly” if Greece and Europe fail to reach a deal, Piketty said. There is no easy way out of this crisis.
“I am much more afraid that the conservatives, especially in Germany, are about to destroy Europe and the European idea, all because of their appalling failure to remember history”.
“If there is no signal from these meetings that Greece and the eurozone are ready to get around the table again, we can expect the financial situation in Greece to deteriorate rapidly”.
Among the German tourists taking photographs outside the Reichstag in Berlin I met Peter.
Specifically they said the country needs “a major reduction” of its debt, to accompany reforms being asked of Athens. Greece must successfully institute reform first, said the German vice-chancellor today.
Germany’s vice chancellor Sigmar Gabriel took a dim view of the message sent by austerity-addled Greeks after they rallied to a call by Prime Minister Alexis Tsipras for a boosted mandate to pursue a more lenient debt deal that includes debt forgiveness.
The ECB has also chose to raise the amount of collateral Greek banks must post for any loans.
Mr. Tsipras spoke over the phone with Ms. Merkel on Monday, a senior government official said, and the two leaders agreed that the Greek premier will present new proposal during a European Union summit on Tuesday in Brussels.
What are the scenarios for Greece?
Gabriel, who is also economy minister, said late last month a debt haircut for Greece would not accomplish anything if Athens simply piled on more debts immediately afterwards.
“We saw the impact of the problems in the Eurozone in 2012 and how they spilt over into the United Kingdom”.
The prime minister praised Greece as a Western, peace-seeking democracy, adding that Israel was “committed to help in any way possible to ensure your success”.
“The prospects of a happy resolution of this crisis are rapidly diminishing”, said the British chancellor, George Osborne, after speaking to some of the key policymakers.
He said he had been “made aware of a certain preference by some eurogroup participants, and assorted “partners”, for my…”
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The last EU-IMF bailout for Greece ran out last Tuesday, despite Tsipras’s appeals for it to be extended. “The proposal we put to them was already extremely generous”.
