Greece's Creditors Rush to Finalise 'take it or Leave It' Debt Offer

Officials representing the creditors of debt-stricken Greece are racing against the clock to finalise what many described as a “take it or leave it” offer to keep the country afloat.
Following emergency talks called by the German chancellor, Angela Merkel, to defuse the crisis late on Monday, lenders at the European Central Bank and the International Monetary Fund suggested the outline of an agreement was close to being finalised. The deal would unlock €7.2bn (£5.2bn) in loans that creditors have refused to release because of wrangling over economic reforms.
But whether Greece’s anti-austerity government will accept the offer remains in doubt. Taking a defiant stance earlier on Tuesday, Alexis Tsipras, the country’s radical left prime minister, said: “We have submitted [our own] realistic plan for Greece to exit the crisis."