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LUXEMBOURG – Europe was scrambling to pick up the pieces after another failed meeting over Greece's bailout which reinforced fears that the country was heading for bankruptcy and euro exit.
Amid increasing signs that Greeks are taking their money out of banks in ever-increasing amounts, Finnish Finance Minister Alexander Stubb said Friday that "right now it's touch and go" whether a deal can be brokered.
And the European Central Bank planned a teleconference of its governing council to discuss emergency liquidity assistance for Greek banks around midday.
In the wake of Thursday's failure by finance ministers to secure a deal, a summit of the eurozone's 19 leaders has been called for Monday. That appears to be the last best chance to cobble together a compromise that would keep Greece in the euro.