Eurozone calls for emergency summit after failure of Greece bailout talks
(VOVworld) - Eurozone leaders will hold an emergency summit on Monday to try to avert a Greek default after talks on Greece’s debt crisis ended without progress on Thursday. The EU warned that Athens would be accidentally pushed out of the Eurozone if both sides can’t break the deadlock by the end of this month.
Eurogroup President Jeroen Dijsselbloem: ''The ball is clearly in the Greek court''. Photo: bbc.co.uk
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Finance ministers of the 19-nation currency bloc failed to make any breakthrough on a cash-for-reforms agreement at talks in Luxembourg on Thursday. Valdis Dombrovskis, a vice president for the European Commission, criticized Athens for not being seriously engaged in negotiations. Meanwhile, Jeroen Dijsselbloem, the head of the Eurogroup of finance ministers, told the press that time is running up and the ball is clearly in the Greek court to seize that last opportunity. Christine Lagarde, the Managing Director of the International Monetary Fund, reiterated Greece’s duty to pay its debts before the June 30 deadline to avoid a default while criticizing Greece’s attitude in negotiations.