The Eurogroup meeting of finance ministers concluded in Luxembourg yesterday without any decisions on Greece, as most players had speculated earlier Thursday.
At a news briefing of EU officials following the meeting, Eurogroup President Jeroen Dijsselbloem said that too little progress had been made, therefore no agreement was in sight. He said the Eurogroup had asked Greece to submit proposals by the end of the month for the extension of the programme, while stressing the need for a credible solution for both Greece and the eurozone. “There is still time to find an agreement and extend the current programme,” he said.
European Commissioner for Economic Affairs Pierre Moscovici said five months of intensive talks had failed to produce an agreement, even though the integrity of the eurozone was everyone’s goal.
He said the process had stalled in the last two weeks and that there was a spirit of flexibility on the part of Greece’s lenders regarding the measures. Moscovici stressed that the end of June was the “game over” deadline, appealing to the Greek side to act “in a constructive spirit and flexibility”.
Euro-zone leaders will hold an emergency summit in Brussels on Monday (19.00) to discuss the Greek issue, European Union President Donald Tusk announced. “It is time to urgently discuss the situation of Greece at the highest political level,” Tusk said in a statement.