.Alexis Tsipras warns Greek exit from euro 'would be an irreversible step'
.Crisis talks to stop Greece crashing out of single currency failed yesterday
.Russia says it is willing to consider giving financial assistance to Greece
.George Osborne said UK is 'prepared for the worst' over possible Grexit
A Greek exit from the eurozone would trigger the collapse of the single currency, Prime Minister Alexis Tsipras warned today.
His comments come after an emergency meeting of leaders was called for Monday – in a last-ditch effort to stop Greece crashing out of the euro.
'The famous Grexit cannot be an option either for the Greeks or the European Union,' he said in an Austrian newspaper interview.
'This would be an irreversible step, it would be the beginning of the end of the eurozone.'
'Would be an irreversible step': Greek Prime Minister Alexis Tsipras waves after a wreath-laying ceremony today at the statue of Russian-born founder of the modern Greek state Ioannis Kapodistrias in St Petersburg, Russia. He warned that a Greek exit from the euro would trigger the collapse of the Euro
Tribute: Alexis Tsipras places flowers at the statue of Russian-born founder of the modern Greek state, Ioannis Kapodistrias, in St Petersburg, Russia
European finance ministers met in Luxembourg yesterday in a bid to strike a deal unlocking billions of pounds in new loans needed by the Greek government to avoid bankruptcy.
The Greek government needs extra funds by the end of the month in order to pay public sector salaries and pensions – and a looming £1.1billion repayment to the International Monetary Fund.
Russia today said it was ready to consider the question of giving financial aid to Greece.
'We will support any solution on regulating the Greek debt crisis that is suggested by Greece and our European partners,' Russian Deputy Prime Minister Arkady Dvorkovich was quoted as saying by TASS news agency.
'The most important things for us are investment projects and trade with Greece. If financial support is required, we will consider this question.'
Demonstrators rally in front of the Greek Parliament in Athens to support Greece's place in the Eurozone
People line up at an ATM outside a branch of the National Bank, in central Athens, after Greece failed to secure a deal with bailout creditors, prompting the EU to call an emergency leaders' meeting for Monday
Desperate times: People withdraw cash from ATMs in central Athens as a beggar lays on the pavement
Meanwhile, Chancellor George Osborne today said Britain is 'prepared for the worst' if Greece did crash out of the eurozone.
Speaking as he arrived for crisis talks with finance ministers today, he said the bailout saga had entered the 'eleventh hour'.
Mr Osborne said Treasury officials would now go on to complete preparations to protect the British economy from the effects of a disorderly 'Grexit' by Athens from the single currency.
He said: 'We have entered the eleventh hour of this Greek crisis and we urge the Greek government to do a deal before it is too late.
'We hope for the best, but we now must be prepared for the worst.
'In the United Kingdom, we've taken the measures to increase our economic security so we can deal with risks like this from abroad. And clearly now we must go on and complete that plan.'
Dire prediction: Greek Finance Minister Yanis Varoufakis admitted his country was unlikely to reach a deal over its debt crisis despite a 'political and moral duty' to do so
Glum: Greek Finance Minister Yanis Varoufakis at an EU finance ministers meeting in Luxembourg today
Earlier today, Tsipras welcomed Monday's meeting and dismissed those predicting catastrophe.
'The leaders summit on Monday is a positive development on the road toward a deal,' his office said in a statement.
'All those who are betting on crisis and terror scenarios will be proven wrong.'
'There will be a solution based on respecting EU rules and democracy which would allow Greece to return to growth in the euro.'
But in return for extra money the 'Troika' of lenders keeping Greece afloat – made up of the European Commission, IMF and European Bank – are demanding a fresh round of austerity including cuts to pensions.
However, the Greek government are refusing any further pension cuts and have threatened to default on their debt repayments.
Wants a fair bargain: Speaking on Radio 4's Today programme, Greece's chief negotiator and junior foreign minister Euclid Tsakalotos (pictured) said any deal had to be 'economically feasible'
European Commission president Donald Tusk last night revealed he had called an emergency Euro Summit on Greece - starting at 7pm on Monday.
He said: 'In light of the outcome of the Eurogroup meeting today, I have decided to convene a Euro Summit. It is time to urgently discuss the situation of Greece at the highest political level.'
The move comes after Greek Finance Minister Yanis Varoufakis admitted his country was unlikely to reach a deal over its debt crisis despite a 'political and moral duty' to do so.
Greece's prime minister Alexis Tsipras is reluctant to accept further austerity measures from eurozone chiefs and said the 'blind insistence' on cutting Greek pensions will only worsen the country's already dire financial crisis.
Talks to end the crisis ended in failure yesterday – with Eurozone leaders failing to mask their frustration at the Greek government.
The leader of the Eurozone's finance ministers Jeroen Dijsselbloem tonight admitted the two sides were miles apart on a deal.
Still hopeful: German Chancellor Angela Merkel has insisted a deal is still possible, stating: 'I'm still convinced - where there's a will, there's a way'
He admitted the talks 'have not progressed', adding: 'Too little measures have been put forward that have been assessed to be credible or serious'.
Mr Dijsselbloem said: 'It is still possible to find an agreement and extend the programme before the end of the month, but the ball is clearly in the Greek court to seize that opportunity,' he said. 'Very little time remains.'
Christine Lagarde, the IMF's managing director, said the ball was in Greece's court.
She said: 'Everything is about give and take, we are waiting, and we hope that the next few days will be used by the Greek authorities to come back with tangible, deliverable measures.'
Next week's crisis meeting of Eurozone leaders comes after Downing Street warned that the possibility of Greece crashing out of the Eurozone poses 'a serious economic risk' to the UK.
Government officials have started making contingency plans into the implications of a Greek exit, amid mounting alarm that EU hardliners led by Germany will force the country out of the single currency.
David Cameron's official spokeswoman yesterday insisted Britain would be 'as prepared as we can be' for the possibility of 'Grexit'.
Negotiations: Spanish Economy Minister Luis de Guindos, right, speaks with Finland's Finance Minister Alexander Stubb during the annual meeting in Luxembourg
She told reporters in Westminster that the Government was taking 'all steps to prepare' – but she admitted the crisis could hit the UK economy.
'Back in February the Prime Minister chaired a cross-government contingency planning meeting on this issue and you can expect that we are continuing to ensure we have the right plans in place and are stepping up preparations given where discussions have got to,' she said.
The Government would not reveal the specific details of the plans, but they included work on the potential impacts on business, the banks and financial sector and tourism.
'I think this is about making sure we can be as prepared as we can be in the event that this happens,' the spokeswoman said.
But she added: 'The potential default or exit of Greece does present some serious economic risks.
'So alongside having contingency plans in place, it means ensuring that we have an economy that is growing, that our public finances are in a good order.'
Depressed: Greek Finance Minister Yianis Varoufakis sits on the floor while listening to Prime Minister Alexis Tsipras (not in picture) addressing his MPs and ministers at the Greek Parliament in Athens
Talks on how British tourists will be assisted if they become stranded in Greece have already begun.
Tourists have been advised to take enough euro notes to cover emergencies in case Greek banks switch off cash machines.
Experts believe the threat of a Greek default could lead to a run on the banks that could result in cash machines being left without money or being turned off altogether.
There are also fears the situation could spark civil unrest.
UK officials have held talks with tour operators, who would have responsibility for flying home any stranded British tourists.
A source said they are also making sure they 'have the resources in place' to provide consular assistance to help facilitate any repatriation of British nationals who might get into difficulties.
Around two million British tourists head to Greece each year.
The Foreign Office advises them to take 'enough money to cover emergencies and any unexpected delays' and avoid relying solely on credit cards or local ATMs.
Chancellor George Osborne told MPs yesterday that 'people should not underestimate' the damage a Greek exit would do to financial confidence.
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