EUROZONE-GREECE/ECOFIN ROUND TABLE EU finance ministers meet ahead of Monday's extra euro summit on Greece

Record ID: 151733

  • Title: EUROZONE-GREECE/ECOFIN ROUND TABLE EU finance ministers meet ahead of Monday's extra euro summit on Greece
  • Date: 19th June 2015
  • Summary: LUXEMBOURG, LUXEMBOURG (JUNE 19, 2015) (REUTERS) VARIOUS OF EXTERIOR OF EUROPEAN COUNCIL IN LUXEMBOURG MAN WITH BRIEFCASE WALKING INSIDE COUNCIL BUILDING
  • Embargoed: 4th July 2015 13:00
  • Keywords:
  • Location: Luxembourg
  • Country: Luxembourg
  • Topics: General
  • Reuters ID: LVA1P01VC7VXZPBBN4H8RDWY2VES
  • Aspect Ratio: 16:9
  • Story Text: European Union finance ministers met in Luxembourg on Friday (June 19) after talks between the finance ministers of the eurozone failed to make any breakthrough on a cash-for-reforms deal with Greece.
    After the meeting, the eurozone finance ministers said Greek Finance Minister Yannis Varoufakis failed to produce the concrete proposals they had been hoping for for weeks.
    Athens and its international creditors remain deadlocked over a debt deal, the former refusing to introduce the reforms on pensions or value added taxes wanted by the latter.
    As Greece edged closer to the brink of a default, bank withdrawals accelerated in Greece and government revenue slumped.
    Greece has said it will default on a 1.6 billion euro debt repayment to the International Monetary Fund on June 30 unless it receives new funds from its creditors, in a move that could set off a chain of events that might eventually pitch Athens out of the eurozone.
    IMF Managing Director Christine Lagarde has ruled out offering Greece a grace period on its debt, saying the global lender would consider Athens in default if it does not pay.
    EU heads of state and government will hold an emergency summit on Monday (June 22) in Brussels.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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