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| Greece debt crisis: IMF payment missed as bailout expires | Greece debt crisis: IMF payment missed as bailout expires |
| (35 minutes later) | |
| Greece has missed the deadline for a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF), hours after eurozone ministers refused to extend its bailout. | Greece has missed the deadline for a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF), hours after eurozone ministers refused to extend its bailout. |
| But the ministers said they would discuss a last-minute suggestion from Greece for a new bailout programme. | But the ministers said they would discuss a last-minute suggestion from Greece for a new bailout programme. |
| Greece is the first advanced country to fail to repay a loan to the IMF and is now formally in arrears. | Greece is the first advanced country to fail to repay a loan to the IMF and is now formally in arrears. |
| There are fears that this could put Greece at risk of leaving the euro. | There are fears that this could put Greece at risk of leaving the euro. |
| The IMF confirmed that Greece had failed to make the payment, shortly after 22:00 GMT on Tuesday. | |
| "We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared," said IMF spokesman Gerry Rice. | |
| With the eurozone bailout expired, Greece no longer has access to billions of euros in funds and could not meet its IMF repayment. | With the eurozone bailout expired, Greece no longer has access to billions of euros in funds and could not meet its IMF repayment. |
| Eurogroup chairman and Dutch Finance Minister Jeroen Dijsselbloem earlier said it would be "crazy" to extend the Greek bailout beyond its Tuesday midnight expiration as Athens was refusing to accept the European proposals on the table. | Eurogroup chairman and Dutch Finance Minister Jeroen Dijsselbloem earlier said it would be "crazy" to extend the Greek bailout beyond its Tuesday midnight expiration as Athens was refusing to accept the European proposals on the table. |
| Speaking after the conference call with other eurozone ministers, he added that a Greek request for a new €29.1bn European aid programme would be considered later. | Speaking after the conference call with other eurozone ministers, he added that a Greek request for a new €29.1bn European aid programme would be considered later. |
| The European Commission - one of Greece's "troika" of creditors along with the IMF and the eurozone's European Central Bank - wants Athens to raise taxes and cut welfare spending to meet its debt obligations. | The European Commission - one of Greece's "troika" of creditors along with the IMF and the eurozone's European Central Bank - wants Athens to raise taxes and cut welfare spending to meet its debt obligations. |
| Amid fears of a Greek default on its huge public debt of €323bn, people have queued at cash machines. Withdrawals are capped at just €60 a day. | Amid fears of a Greek default on its huge public debt of €323bn, people have queued at cash machines. Withdrawals are capped at just €60 a day. |
| Greek banks did not open this week after talks between Greece and its creditors broke down. However, up to 1,000 bank branches will re-open from Wednesday to allow pensioners - many of whom do not use bank cards - to withdraw up to €120. | Greek banks did not open this week after talks between Greece and its creditors broke down. However, up to 1,000 bank branches will re-open from Wednesday to allow pensioners - many of whom do not use bank cards - to withdraw up to €120. |
| Analysis: By Andrew Walker, economics correspondent | Analysis: By Andrew Walker, economics correspondent |
| The sky will not fall in now the deadline for Greece to repay to the IMF has passed, but the tension will rise. | The sky will not fall in now the deadline for Greece to repay to the IMF has passed, but the tension will rise. |
| When a payment to the IMF is missed and managing director Christine Lagarde informs her board, the eurozone would have the right under the loan agreements to demand immediate repayment of more than €180bn they have already lent Greece, together with interest. | When a payment to the IMF is missed and managing director Christine Lagarde informs her board, the eurozone would have the right under the loan agreements to demand immediate repayment of more than €180bn they have already lent Greece, together with interest. |
| Failure to repay the IMF comes under a list of "events of default" set out in the legal documents. IMF officials say Ms Lagarde intends to inform the board promptly if Greece doesn't pay on time. | Failure to repay the IMF comes under a list of "events of default" set out in the legal documents. IMF officials say Ms Lagarde intends to inform the board promptly if Greece doesn't pay on time. |
| Of course, in practice, the rest of the eurozone won't demand the money back and send in the bailiffs. Athens couldn't possibly repay and in any event they want to keep talking, hoping they can keep Greece in the eurozone. But the fact that they would have the option is a sign of how close Greece is getting to the brink. | Of course, in practice, the rest of the eurozone won't demand the money back and send in the bailiffs. Athens couldn't possibly repay and in any event they want to keep talking, hoping they can keep Greece in the eurozone. But the fact that they would have the option is a sign of how close Greece is getting to the brink. |
| On Tuesday evening, thousands of pro-EU protesters braved stormy weather and gathered outside the Greek parliament in Athens to urge a "yes" vote in a referendum on Sunday over whether the country should accept its creditors' proposals. | On Tuesday evening, thousands of pro-EU protesters braved stormy weather and gathered outside the Greek parliament in Athens to urge a "yes" vote in a referendum on Sunday over whether the country should accept its creditors' proposals. |
| It follows a similar demonstration by those advocating a "no" vote - the path preferred by Mr Tsipras - on Monday. | It follows a similar demonstration by those advocating a "no" vote - the path preferred by Mr Tsipras - on Monday. |
| EU leaders have warned that a no vote rejecting creditors' proposals would mean Greece leaving the eurozone - though Mr Tsipras says he does not want this to happen. | EU leaders have warned that a no vote rejecting creditors' proposals would mean Greece leaving the eurozone - though Mr Tsipras says he does not want this to happen. |
| The ECB is believed to have disbursed virtually all of its emergency funds for Greece, amounting to €89bn (£63bn). | The ECB is believed to have disbursed virtually all of its emergency funds for Greece, amounting to €89bn (£63bn). |
| What happens next? | |
| 30 June : Greece failed to meet deadline for €1.6bn repayment to the IMF. | |
| 5 July - the referendum on creditors' proposals, and many say Greece's membership of the eurozone, takes place. | |
| 20 July - Greece must redeem €3.46bn of bonds held by the European Central Bank. If it fails to do so, the ECB can cut off Greece's access to emergency loans. | 20 July - Greece must redeem €3.46bn of bonds held by the European Central Bank. If it fails to do so, the ECB can cut off Greece's access to emergency loans. |
| Days of turmoil | Days of turmoil |
| Is Grexit nearer? | Is Grexit nearer? |
| Katya Adler: A European divide | Katya Adler: A European divide |
| Existential threat to euro from Greek exit | Existential threat to euro from Greek exit |
| A guide to the key numbers and issues | A guide to the key numbers and issues |
| Lenders' proposals - key sticking points | Lenders' proposals - key sticking points |
| Source: European Commission document, 26 Jun 15 (pdf) | Source: European Commission document, 26 Jun 15 (pdf) |
| Greek debt jargon explained | Greek debt jargon explained |
| Are you in Greece? What are your concerns? Do you have friends and family in the country who may be affected? Email haveyoursay@bbc.co.uk with your experiences. | Are you in Greece? What are your concerns? Do you have friends and family in the country who may be affected? Email haveyoursay@bbc.co.uk with your experiences. |
| If you would be happy to speak further to a BBC journalist, please include a contact telephone number. You can also tweet your stories to @BBC_HaveYourSay or text 61124. If you are outside the UK, send them to the international number +44 7624 800 100. | If you would be happy to speak further to a BBC journalist, please include a contact telephone number. You can also tweet your stories to @BBC_HaveYourSay or text 61124. If you are outside the UK, send them to the international number +44 7624 800 100. |
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