Eurozone finance ministers rejected the deal in its current form, saying that it still didn't go far enough in cutting down Greece's unsustainable public debts.

German Finance Minister Wolfgang Schaeuble estimated that Greece's public debt could remain as high as 136 percent of GDP in 2020 according to Bloomberg, despite strict stipulations that Greece bring its public debts down to 120 percent by that year.

Markets are sour, the euro is diving, and suddenly the picture no longer looks rosy in Greece.

We'll keep you up to speed throughout the day right here with all the latest news coming out of Greece.