And after all the threats, deadlines, ultimatums and wolfcries, Germany and Greece stand eyeball to eyeball. Now, austerity is no longer a measure that Greek politicians will abide by:
At a press conference with French President Nicolas Sarkozy on Monday, Ms Merkel: "There can be no new Greece programme if agreement is not reached with the troika... All those who bear responsibility in Greece must know - we will not deviate from this position."
She added: "I honestly can't understand how additional days will help. Time is of the essence. A lot is at stake for the entire eurozone."
Who will blink first?
