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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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'Our proposals would end Greek drama' says minister

The Greek Finance Minister has said the proposals he put forward today offered "deep reforms" for the Greek economy and would solve the crisis.

Yanis Varoufakis said the proposals sent a "powerful message" which would put an end to the "Greek drama."

He also criticised the President of the Eurogroup Jeroen Dijsselbloem saying that he was only looking at the Greek's responsibilities.

But there was some hope, he said, as both sides are "very close" in regard to fiscal issues.

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

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