Euro zone crisis: A timeline

Six months of Greek turmoil leading to possible Grexit?

The currnet Greek crisis has been developing for years and coming to a head for months now. Denis Staunton of The Irish Tmes, looks back to how they got here and major turning points in the crisis. Video: Reuters/ Enda O'Dowd

January 25 - Greek general election: Syriza wins leading to election of 40-year-old Alexis Tsipras as Greek prime minister

February 20th - Eurogroup agrees to an extension of second Greek bailout to June 30th , but mandates both sides to reach agreement on reform measures by the end of April

April 24th - End of April deadline passes without agreement, as eurogroup in Riga fails to yield a deal

May 31st - Angela Merkel convenes 'mini-summit' in Berlin with senior IMF and EU figures but without Alexis Tsipras, with lenders forging a common position following reports of divisions between the European and IMF lenders.

READ MORE

June 4th - Greece misses key IMF payment and announces it will rebundle four payments due in June into one payment to be paid on June 30th

June 11th - IMF recalls its chief negotiators from Brussels

June 18th - First of five eurogroup meetings as IMF repayment deadline and expiration of bailout looms.

June 22nd - Euro zone summit convened by Donald Tusk to discuss deepening Greek crisis

June 25th/26th - Summit of EU leaders overshadowed by Greek crisis

June 27th - Alexis Tsipras calls a referendum on bailout terms; euro zone finance ministers refuse to extend second Greek bailout

June 28th Greece imposes capital controls to prevent banks from collapsing under the weight of mass withdrawals

June 30th - Expiration date: Greece’s bailout expires and the country is due to repay €1.6 billion in loan repayments to the International Monetary Fund. Even if a deal is in place before the deadline expires, it remains unclear how – or whether – Greece will find the money to pay the IMF, since there is not enough time for Athens to pass all the economic reforms necessary to gain access to any of the €7.2billion in bailout funds.

Additional reporting: Financial Times

Suzanne Lynch

Suzanne Lynch

Suzanne Lynch, a former Irish Times journalist, was Washington correspondent and, before that, Europe correspondent