European Council president Donald Tusk has announced an emergency summit of eurozone leaders for Monday after no progress was achieved at the Eurogroup meeting of Eurozone finance ministers.
European Union President Donald Tusk called the summit to discuss Greece’s plight.
“It is time to urgently discuss the situation of Greece at the highest political level,” Tusk said in a statement. The summit will start at 7 p.m. on June 22.
Four hours of talks in Luxembourg failed to break the deadlock between creditors and Greece before the nation’s financial lifeline expires at the end of the month. It’s “unthinkable” that Greece will get money by June 30, Eurogroup President and Dutch Finance Minister Jeroen Dijsselbloem told reporters.
“Let’s say that we do reach an agreement, it’s unthinkable that the implementation and then disbursement will also have to take place before the end of the month,” Dijsselbloem said. “That’s unthinkable. So in that scenario we would need an extension.”