A 'Grexit' is ever likelier - but it would not benefit Athens

The clock on Greece’s membership of the eurozone appears to be fast running down. The country’s first showdown with its eurozone creditors on Wednesday did not go well. The Greek Finance Minister, Yanis Varoufakis, called the meeting “constructive”. But the plain fact is there was so little common ground between the two sides they could not even agree on the subject of future discussions.