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Osborne: Time to 'prepare for the worst' in Greek crisis

Chancellor George Osborne has said it is time to "prepare for the worst" as he urged the Greek government to do a deal with its lenders.

Arriving in Luxembourg for a meeting with EU ministers, Mr Osborne said Britain has "taken measures" to protect against a Grexit" by Athens from the single currency.

Meanwhile, Greek Prime Minister Alexis Tsipras insisted that there will be a solution to the debt crisis which will allow his country to return to growth.

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Greek plans deemed not 'credible' as debt talks stall

Jeroen Dijsselbloem says a deal could still be reached before the end of the month Credit: Reuters

The president of the Eurogroup has said that plans put forward by Greece are not "serious" or "credible" as debt negotiations stall.

Jeroen Dijsselbloem, who heads the group of 19 finance ministers in the euro zone, said little progress had been made.

But he remained optimistic that a deal could be reached before the deadline of June 30.

Regrettably too little progress has been made between institutions and Greece and no agreement has been made.

Too little measures have been put forward that have been assessed as serious and credible.

It's still possible to find an agreement before the end of the month but the ball is clearly in the Greek court.

– Jeroen Dijsselbloem, President, Eurogroup
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Osborne: Time to 'prepare for the worst' in Greek crisis

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