Greece's proposed bailout concedes many of the previous demands of its creditors, including higher taxes and cuts in spending. Its left-wing government had staked its credibility on brinksmanship to force Europe and the IMF to bend.
With bankruptcy looming, Greece has issued only vague – and contradictory – proposals. And Europe seems unwilling to budge.
Probably not. But an amicable agreement between the IMF, Germany, Greece and others on handling the country's massive debt is likely to take more time.
'Boat season' is in full swing in the Mediterranean, as migrants brave perilous conditions for a better life in Europe. But the crossing is deadlier than ever – already 1,800-plus migrants have died.
The tiny nation is currently the site of Europe's biggest political scandal, involving secret tapes, mass protests, and threats of ethnic conflict.