It comes as no surprise that the meeting of European finance ministers has ended with no solution to the Greek debt problem.

Eurozone leaders are to meet for a crisis summit in Brussels on Monday.

In the closing news conference IMF chief Christine Lagarde took a swipe at the Greek a negotiating team:“The institutions have put together some very sensible proposals that are a clear easing from whatever was previously considered. And we are waiting… The key emergency in my view is to restore a dialogue with adults in the room.”

#Eurogroup starts with talk of Greek default. #Greece - https://t.co/freXJP6KNZ— EUobserver (@euobs) June 18, 2015


The Greek finance minister Yanis Varoufakis said he came to the meeting with a new and innovative proposal to reassure creditors:“We recognise that there is a problem of trust within the Eurogroup. In order to overcome it in today’s meeting we, we put on the table a radical proposal. We proposed that there should be an automated hard deficit