Tsipras Asks European Union for a New Bailout Program

German Chancellor Angela Merkel dismissed a bid for aid by Greece hours before its bailout expires and a payment deadline to the International Monetary Fund passes.

While Merkel rejected talks before a July 5 referendum called by Greek Premier Alexis Tsipras on further budget cuts, euro-area finance ministers signaled the deadlock may be thawing. As capital controls ration bank withdrawals and pensions, Greek society is feeling the pain.