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Marketplace
Greeks in crisis

Eurozone summit on hold as leaders meet with Greek PM

Marketplace Staff Jul 12, 2015
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European leaders are meeting with Greece’s Prime Minister Alexis Tsipras Sunday, putting a eurozone summit on hold to try and reach a deal on Greek debt.  

Our partners at the BBC report

Mr Tsipras was shown meeting the German chancellor, the French president and the EU president, as they work to try and reach a deal by the end of Sunday.

They are discussing new proposals put forward by eurozone finance ministers.

A draft of the package suggests Greece could temporarily leave the eurozone if no agreement on a bailout is reached.

The four-page document says “Greece should be offered swift negotiations on a time-out from the euro area, with possible debt restructuring”.

Finnish Finance Minister Alex Stubb said one condition in the ministers’ proposal requires Greece to implement new laws by Wednesday.

Greece will also be required to introduce tough conditions on labour reform, VAT and taxes, and tough measures on privatisation and privatisation funds, Mr Stubb told reporters.

The head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, said a “couple of big issues” remain which would be left to the heads of government to rule on, though he did not give details.

Germany’s Angela Merkel says for European leaders, negotiations on a third bailout would be contingent on whether “the conditions are met.” She wouldn’t guarantee that an agreement would be reached, saying, “We have to make sure the pros outweigh the cons – for Greece’s future, for the entire eurozone and the principles of our collaboration.”

Tsipras told reporters he was optimistic that an agreement could be reached Sunday “if all parties want it.”

Marketplace’s Kai Ryssdal is in Greece, reporting along with Stephen Beard. The program will broadcast from Athens starting Monday. In the meantime, follow along on Instagram.

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