The Financial Times with their take on the Tuesday Euro meeting.

In brief:

  • Greece given five days to reach a deal
  • Or face bankruptcy and a collapse of its banking sector
  • European leaders called an emergency summit on Sunday of all 28 EU members to decide the country's fate
  • The strongest language since the start of the six-month stand-off
  • EU leaders said the No vote in the weekend referendum had severely constrained their ability to offer Greece aid
  • Warned any new bailout deal would include much tougher terms than those that could have been reached just two weeks ago

More at the Financial Times (gated, but can be read with a free registration): Greece given five-day deadline to avoid bankruptcy