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A Greek exit or Grexit from the eurozone of nations sharing a single currency, and possibly the European Union, is close at hand after bailout talks between EU leaders and Greece failed.

This means the current program providing Greece with emergency funds, already extended for four months, will end on Tuesday, said Jeroen Dijsselbloem, Dutch finance minister and president of the eurogroup of 19 nations, on Saturday during a live-streamed press conference.

Greece has been seeking nearly $10 billion (U.S.) in rescue funds to keep the country afloat.

In exchange, Greece’s creditors — the International Monetary Fund, the European Commission and the European...

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