‘Most critical moment in history of EU’: Final deadline for Greece deal

Eurozone leaders have offered Greece a final chance to present a credible rescue plan - or face a likely exit from the euro. Athens must submit a loan request and reform plan by Thursday - though in the meantime officials are devising “detailed” plans for a so-called Grexit scenario. The leaders of all 28 EU member states will then discuss any Greek proposal at a “decisive” summit on Sunday.

I have the strong impression there were 18 ministers of finance who felt the urgency of the situation and there is one who doesn’t feel the urgency of the situation.

Belgian Finance Minister Johan Van Overtveldt

European Council President Donald Tusk called it “the most critical moment” in the history of the EU. His comments came after an emergency eurozone leaders’ meeting ended with little to show. Greek ministers had been accused of failing to present concrete proposals in Brussels. But a few hours later Greek Prime Minister Alexis Tsipras left the summit saying his country was now ready to carry out credible reforms in return for adequate funding. He said the meetings had a “positive atmosphere” and there was now the prospect of a “final exit” from the crisis.

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