European Council President Donald Tusk has reportedly rejected a Greek government request, signed by PM Alexis Tsipras, for an extension of a bailout package for Greece by a week.
The radical leftist government wanted the extension ahead of a snap referendum Tsipras announced in the first hours of Saturday, a shock to most European leaders and the cause of a week-long “banking holiday”, complete with capital controls.
Athens wanted the extension to normalize the situation, and possibly reopen banks ahead of the incredibly rushed plebiscite.
Tusk reportedly writes that there is no basis to grant the Tsipras government the extension it wants.