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Greece debt crisis: Eurozone sets deadline for new plan | |
(35 minutes later) | |
The eurozone gives Greece until Thursday to present new proposals to secure a deal with creditors, and has called a full EU summit for Sunday. | |
The moves came after an emergency eurozone leaders' summit in Brussels. | |
The eurozone had asked Greece to submit fresh plans after its voters rejected a draft bailout in a referendum. | |
But Greece brought no written plans, suggesting instead a few changes to an earlier draft, which would respect "the mandate of the referendum". | |
On Sunday a meeting of all 28 members of the European Union will be held. | |
European Council President Donald Tusk said that this was the "most critical moment in the history of the eurozone". | |
"The final deadline ends this week," he said. | |
Mr Tusk said a Greek bankruptcy and the collapse of the Greek banking system would affect the whole of Europe, and that anyone who thought otherwise was naive. | |
German Chancellor Angela Merkel said the eurozone leaders had had a "serious, candid discussion" in Brussels that "reflected the seriousness of the situation at hand". | |
She said the leaders "obviously respect the results of the referendum" but also had a "shared responsibility" for the European Union. | |
Mrs Merkel said Greece needed a new debt programme that would last several years, not a short-term fix. | |
European Commission President Jean-Claude Juncker said he wanted Greece to remain in the eurozone but that Greece had to "tell us where they are heading" by the end of the week. | |
Italian PM Matteo Renzi said Greek PM Alexis Tsipras was acting in good faith to provide sensible proposals to stave off the debt crisis. |