Euro Chiefs Seek Damage Control as Greece Heads to Referendum
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European finance chiefs shelved efforts to rescue Greece, turning their focus to containing fallout from a looming financial collapse as Greek savers lined up at local banks and ATMs to pull out as many euros as they could.
The breakdown after a week of nonstop talks followed Prime Minister Alexis Tsipras’s surprise call for a July 5 referendum on spending cuts that he has steadfastly rejected. Greece’s parliament approved the plan in a vote in the early hours of Sunday after a fractious debate.