How The Greek Deal Almost Collapsed At 6am In The Morning

What began at Saturday’s Eurogroup meeting as a contentious exchange between EU finance ministers (who experessed their extreme consternation at the projected size of a Greek ESM package which was suddenly 43% larger than the figure from the Greek proposal thanks to a 25 billion provision for bank recapitalization) nearly ended in a Grexit, both figuratively and literally when, at 6am Monday morning Brussels time, Greek PM Alexis Tsipras headed for the door after discussions with Angela Merkel hit what both leaders deemed to be an intractable stalemate.
Or so the story goes.
For those who enjoy a good narrative, here are the details via FT:

This post was published at Zero Hedge on 07/13/2015.