"The last offer that we made was a very generous one," Merkel said Monday at the Elysee Palace in Paris. "On the other hand, Europe can only stand together, if each nation takes on its own responsibility."
Earlier, the ECB kept its lifeline at a prior level, rather than raise it as Tsipras wanted. Yet it increased the haircuts on collateral pledged against emergency liquidity, raising the discount applied to reflect the dire situation.
European Central Bank