This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/greece-crisis-why-are-mondays-debt-talks-so-important-10336124.html
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Greece crisis: why are Monday’s debt talks so important? | Greece crisis: why are Monday’s debt talks so important? |
(35 minutes later) | |
Monday is being described as a critical day for Greece. | Monday is being described as a critical day for Greece. |
First up, the the board of European Central Bank will meet at 9.30am London time. | First up, the the board of European Central Bank will meet at 9.30am London time. |
At 10am, Alexis Tsipras, the Greek prime minister, is supposed to meet the heads of the International Monetary Fund, the European Central Bank, the European Commission and the Eurogroup. | |
Then at 11.30am, eurozone finance ministers meet in Brussels, where a deal on Greece's bailout could be agreed. | Then at 11.30am, eurozone finance ministers meet in Brussels, where a deal on Greece's bailout could be agreed. |
All that comes ahead of the big event at 6pm, when eurozone leaders meet for an emergency summit to debate the Greek crisis. | All that comes ahead of the big event at 6pm, when eurozone leaders meet for an emergency summit to debate the Greek crisis. |
That’s right, there is actually a week to go until the deadline for Greece’s next debt repayment of €1.6 billion, owed to the International Monetary Fund by June 30. | That’s right, there is actually a week to go until the deadline for Greece’s next debt repayment of €1.6 billion, owed to the International Monetary Fund by June 30. |
To afford that, Greece must ‘unlock’ a further €7.2 billion in aid by reaching an agreement on reforms to cut government spending. | To afford that, Greece must ‘unlock’ a further €7.2 billion in aid by reaching an agreement on reforms to cut government spending. |
An agreement on Monday will allow time for a new bail-out package to be transferred. A last minute deal might be too late to get the money across in time. | An agreement on Monday will allow time for a new bail-out package to be transferred. A last minute deal might be too late to get the money across in time. |
Monday’s meeting also allows further time if talks fail again – though anything later in the week would be complicated by a European Council meeting on Thursday and Friday that will take up the time of those needed during Greek talks. | Monday’s meeting also allows further time if talks fail again – though anything later in the week would be complicated by a European Council meeting on Thursday and Friday that will take up the time of those needed during Greek talks. |
There is hope that Monday is the day. Greek bank account holders have been withdrawing money from the banks at a terrifying rate over the weekend - pre-ordered withdrawals for Monday are reported to have reached €1 billion. This might scare the Greek government into action. | There is hope that Monday is the day. Greek bank account holders have been withdrawing money from the banks at a terrifying rate over the weekend - pre-ordered withdrawals for Monday are reported to have reached €1 billion. This might scare the Greek government into action. |
The Greek government sent reform proposals to its international lenders on Sunday. It then transpired they had initially sent the wrong documents. | The Greek government sent reform proposals to its international lenders on Sunday. It then transpired they had initially sent the wrong documents. |
European Commissioner Martin Selmayr said on Twitter that the new proposals were a "good basis for progress at tomorrow’s EuroSummit". | European Commissioner Martin Selmayr said on Twitter that the new proposals were a "good basis for progress at tomorrow’s EuroSummit". |
New Greek proposal received by @JunckerEU, @Lagarde, @ecb. Good basis for progress at tomorrow's EuroSummit. In German: "eine Zangengeburt". | New Greek proposal received by @JunckerEU, @Lagarde, @ecb. Good basis for progress at tomorrow's EuroSummit. In German: "eine Zangengeburt". |
He described negotiations as “eine Zangengeburt” or “a forceps delivery”. | He described negotiations as “eine Zangengeburt” or “a forceps delivery”. |
Previous version
1
Next version