Eurozone issues Greece a ‘final’ deadline
European Council President Donald Tusk says this is now the "most critical moment in the history of the eurozone."
Eurozone leaders have given the Greek government a “final” deadline to provide new reform proposals to secure a deal with its creditors.
Greek Prime Minister Alexis Tsipras and his government have been given until Thursday (Friday NZ time) at the latest to submit its reform plans.
German chancellor Angela Merkel confirmed to a press conference that Greece will submit a loan request and a list of reform proposals on Wednesday.
She expects “detailed Greek proposals” for a new multi-year programme on Thursday.
European Council President Donald Tusk says this was now the "most critical moment in the history of the eurozone."
After an emergency summit of eurozone leaders, Mr Tusk said until now he had avoided talking about deadlines “but tonight I have to say it loud and clear that the final deadline ends this week.
“All of us are responsible for the crisis and all of us have a responsibility to resolve it,” he says.
Eurozone leaders have also called a full EU summit, with all 28 members, this Sunday.
The eurozone expected new plans to be submitted by the Greek government on Tuesday (Wednesday NZ time), but no new proposals were tabled by the Greeks.
This comes after the Greek people overwhelmingly voted ‘no’ to bailout conditions last Sunday, and defaulted on its €1.6 billion IMF debt repayment the week prior.
Without a fresh injection of emergency funds, the embattled nation is poised to default on its €4.2bn billion payment to European Central Bank on July 20.
European Commission president Jean-Claude Juncker admitted to reporters that the commission “[has] a ‘Grexit’ scenario, prepared in detail.”
Eurozone chief Jeroen Dijsselbloem told reporters “all of this needs to be done in a matter of days, as we have very little time.”
Jason Walls
Wed, 08 Jul 2015
Wed, 08 Jul 2015
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Eurozone issues Greece a ‘final’ deadline
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