No Greek deal at Eurogroup meeting – Euro Summit on Monday

The head of the European Council, Donald Tusk, said on Thursday he has convened an emergency summit of eurozone states on Monday (June 22) in Brussels, at 19.00, to discuss Greece.

“I have decided to convene a Euro Summit [on] Monday. Time to discuss the situation of Greece at highest political level,” Tusk tweeted after the conclusion of the Eurogroup meeting in Luxembourg, which ended without a deal for the country.

Eurozone finance ministers did not reach any agreement on Greece during their meeting on Thursday, Eurogroup President Jeroen Dijsselbloem announced in a press conference after the meeting.

Too little progress had been made, he said, therefore no agreement was in sight. He said the Eurogroup had asked Greece to submit proposals by the end of the month for the extension of the programme, while stressing the need for a credible solution for both Greece and the eurozone.

“There is still time to find an agreement and extend the current programme,” he said.

European Commissioner for Economic Affairs Pierre Moscovici said five months of intensive talks had failed to produce an agreement, even though the integrity of the eurozone was everyone’s goal.

He said the process had stalled in the last two weeks and that there was a spirit of flexibility on the part of Greece’s lenders regarding the measures.

Moscovici stressed that the end of June was the “game over” deadline, appealing to the Greek side to act “in a constructive spirit and flexibility”.