Euro zone leaders have given Greece until Friday July 10,2015 to produce a detailed reform plan ahead of an EU summit Sunday July 12,2015 to decide whether to accept the proposal and negotiate more financial aid
At an emergency summit in Brussels on Tuesday July 07,2015, representatives of the 19-country euro zone said all 28 European Union leaders would meet on Sunday to decide Greece's fate. The talks were organized after Greeks voted in a referendum on Sunday against a bailout that carried stringent austerity measures.
French President Francois Hollande said the European Central Bank would ensure that Greek banks had the minimum necessary liquidity to stay afloat until Sunday July 12,2015
Greek Prime minister Alexis Tsipras, German Chancellor Angela Merkel, European Commission President Jean-Claude Juncker and French President Francois Hollande meet at the European Union headquarters in Brussels on July 7, 2015
Under a timetable agreed by the 19 leaders of the common currency area, Greece will submit on Wednesday a formal request for a two-year loan program, with a first list of reform commitments to be spelled out in greater detail on Thursday.
If the European Commission, the International Monetary Fund and the European Central Bank approve, Eurogroup finance ministers will meet on Saturday to recommend opening negotiations on a conditional assistance program.
"The ball is in Greece's court," Italian Prime Minister Matteo Renzi said, calling Sunday July 12,2015 "the final meeting on Greece".
Getting a new rescue deal for Greece is urgent and becoming more so by the day. Greek banks are running out of cash even after the government shut them last week and placed limits on how much depositors can withdraw or transfer
Greek Prime minister Alexis Tsipras's appointment of Tsakalotos as the new finance minister to lead talks with creditors was interpreted as a sign he may be willing to compromise. Tsakalotos, a 55-year-old economist, replaced Yanis Varoufakis, who constantly clashed with his peers
At an emergency summit in Brussels on Tuesday July 07,2015, representatives of the 19-country euro zone said all 28 European Union leaders would meet on Sunday to decide Greece's fate. The talks were organized after Greeks voted in a referendum on Sunday against a bailout that carried stringent austerity measures.
French President Francois Hollande said the European Central Bank would ensure that Greek banks had the minimum necessary liquidity to stay afloat until Sunday July 12,2015
Greek Prime minister Alexis Tsipras, German Chancellor Angela Merkel, European Commission President Jean-Claude Juncker and French President Francois Hollande meet at the European Union headquarters in Brussels on July 7, 2015
Under a timetable agreed by the 19 leaders of the common currency area, Greece will submit on Wednesday a formal request for a two-year loan program, with a first list of reform commitments to be spelled out in greater detail on Thursday.
If the European Commission, the International Monetary Fund and the European Central Bank approve, Eurogroup finance ministers will meet on Saturday to recommend opening negotiations on a conditional assistance program.
"The ball is in Greece's court," Italian Prime Minister Matteo Renzi said, calling Sunday July 12,2015 "the final meeting on Greece".
Getting a new rescue deal for Greece is urgent and becoming more so by the day. Greek banks are running out of cash even after the government shut them last week and placed limits on how much depositors can withdraw or transfer
Greek Prime minister Alexis Tsipras's appointment of Tsakalotos as the new finance minister to lead talks with creditors was interpreted as a sign he may be willing to compromise. Tsakalotos, a 55-year-old economist, replaced Yanis Varoufakis, who constantly clashed with his peers
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