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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/jul/11/greek-debt-crisis-eurozone-creditors-meet-to-decide-countrys-fate
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| Version 21 | Version 22 |
|---|---|
| Greek debt crisis: Eurozone finance ministers fail to reach agreement - as it happened | Greek debt crisis: Eurozone finance ministers fail to reach agreement - as it happened |
| (7 months later) | |
| 12.32am BST | 12.32am BST |
| 00:32 | 00:32 |
| Closing summary: Greece nears euro exit as bailout talks break up | Closing summary: Greece nears euro exit as bailout talks break up |
| So, another crunch meeting fails to deliver a breakthough. | So, another crunch meeting fails to deliver a breakthough. |
| But this wasn’t any old failed eurogroup meeting. This might be remembered as a classic. | But this wasn’t any old failed eurogroup meeting. This might be remembered as a classic. |
| We had Germany producing a half-baked scheme to boot Greece out for five years, Finland’s new government on the edge of meltdown, and Italy preparing to raise the stakes on Sunday by telling Germany that enough is enough. | We had Germany producing a half-baked scheme to boot Greece out for five years, Finland’s new government on the edge of meltdown, and Italy preparing to raise the stakes on Sunday by telling Germany that enough is enough. |
| Meanwhile, Greece’s economy is in freefall, its banks are on the edge, and its political class are reeling after Alexis Tsipras offered billions of euros in fresh austerity to get a deal. | Meanwhile, Greece’s economy is in freefall, its banks are on the edge, and its political class are reeling after Alexis Tsipras offered billions of euros in fresh austerity to get a deal. |
| From Brussels, our Europe editor Ian Traynor sums up the situation after another frustrating, and sometimes bizarre, day: | From Brussels, our Europe editor Ian Traynor sums up the situation after another frustrating, and sometimes bizarre, day: |
| Greece’s final attempt to avoid being kicked out of the euro by securing a new three-year bailout worth up to €80bn ran into a wall of resistance from the eurozone’s fiscal hawks on Saturday. | Greece’s final attempt to avoid being kicked out of the euro by securing a new three-year bailout worth up to €80bn ran into a wall of resistance from the eurozone’s fiscal hawks on Saturday. |
| Finland rejected any more funding for the country and Germany called for Greece to be turfed out of the currency bloc for at least five years. | Finland rejected any more funding for the country and Germany called for Greece to be turfed out of the currency bloc for at least five years. |
| The last chance talks between the 19 eurozone finance ministers in Brussels ran into the early hours of the morning as they struggled to draft a policy paper for national leaders at yet another emergency summit on Sunday that was billed as the decisive meeting. | The last chance talks between the 19 eurozone finance ministers in Brussels ran into the early hours of the morning as they struggled to draft a policy paper for national leaders at yet another emergency summit on Sunday that was billed as the decisive meeting. |
| With Greece on the edge of financial and social implosion, eurozone finance ministers met to decide on the country’s fate and on what to do about its debt crisis, after experts from the troika of creditors said that new fiscal rigour proposals from Athens were good enough to form “the basis for negotiations”. | With Greece on the edge of financial and social implosion, eurozone finance ministers met to decide on the country’s fate and on what to do about its debt crisis, after experts from the troika of creditors said that new fiscal rigour proposals from Athens were good enough to form “the basis for negotiations”. |
| But the German finance minister, Wolfgang Schäuble, dismissed that view, supported by a number of northern and eastern European states. | But the German finance minister, Wolfgang Schäuble, dismissed that view, supported by a number of northern and eastern European states. |
| A German finance ministry paper said: | A German finance ministry paper said: |
| “These proposals cannot build the basis for a completely new, three-year [bailout] programme, as requested by Greece.” | “These proposals cannot build the basis for a completely new, three-year [bailout] programme, as requested by Greece.” |
| It called for Greece to be expelled from the eurozone for a minimum of five years and demanded that the Greek government transfer €50bn of state assets to an outside agency for sell-off. | It called for Greece to be expelled from the eurozone for a minimum of five years and demanded that the Greek government transfer €50bn of state assets to an outside agency for sell-off. |
| Timo Soini, the nationalist True Finns leader, meanwhile, threatened to bring down the government in Helsinki if Alex Stubb, the finance minister, agreed to a new bailout for Greece. Stubb apparently came to the crunch meeting on a new bailout without a mandate to agree one..... | Timo Soini, the nationalist True Finns leader, meanwhile, threatened to bring down the government in Helsinki if Alex Stubb, the finance minister, agreed to a new bailout for Greece. Stubb apparently came to the crunch meeting on a new bailout without a mandate to agree one..... |
| Here’s Ian’s full story: | Here’s Ian’s full story: |
| Tomorrow’s leaders’ summit could be explosive, given we’re expecting Matteo Renzi to urge Angela Merkel to show some leadership and end the crisis. | Tomorrow’s leaders’ summit could be explosive, given we’re expecting Matteo Renzi to urge Angela Merkel to show some leadership and end the crisis. |
| And with eurogroup president Dijsselbloem warning that the situation is “very difficult”, there’s no guarantee of a breakthrough when ministers resume talks. But a good night’s sleep might help. | And with eurogroup president Dijsselbloem warning that the situation is “very difficult”, there’s no guarantee of a breakthrough when ministers resume talks. But a good night’s sleep might help. |
| So in that spirit, I’m going to end this liveblog until the morning. (unless anything sensational happens). Thanks, as ever, for reading and helping. Goodnight! GW | So in that spirit, I’m going to end this liveblog until the morning. (unless anything sensational happens). Thanks, as ever, for reading and helping. Goodnight! GW |
| see you tomorrow #Greece #ohnoooo pic.twitter.com/oL2NVGNQqS | see you tomorrow #Greece #ohnoooo pic.twitter.com/oL2NVGNQqS |
| Updated | Updated |
| at 12.55am BST | at 12.55am BST |
| 12.26am BST | 12.26am BST |
| 00:26 | 00:26 |
| The message from Greece tonight - don’t blame us, we’re doing our best: | The message from Greece tonight - don’t blame us, we’re doing our best: |
| Greek gov source on Eurogroup: It's clear that certain countries, for reasons unrelated to reforms+program, don't want there to be agreement | Greek gov source on Eurogroup: It's clear that certain countries, for reasons unrelated to reforms+program, don't want there to be agreement |
| 12.23am BST | 12.23am BST |
| 00:23 | 00:23 |
| European solidarity, eh? | European solidarity, eh? |
| "Even if #Tsakalotos chopped down his arm, #Schaeuble would say it's not enough". Words of a European official for today's #Eurogroup | "Even if #Tsakalotos chopped down his arm, #Schaeuble would say it's not enough". Words of a European official for today's #Eurogroup |
| 12.07am BST | 12.07am BST |
| 00:07 | 00:07 |
| If eurozone finance ministers cannot reach a deal on Sunday morning, they will pass the hot potato onto the 28 leaders of EU countries in the afternoon: | If eurozone finance ministers cannot reach a deal on Sunday morning, they will pass the hot potato onto the 28 leaders of EU countries in the afternoon: |
| Another crack tomorrow at 11am, and if they can't do it, then it gets booted upstairs to the leaders. And that is when the fun really begins | Another crack tomorrow at 11am, and if they can't do it, then it gets booted upstairs to the leaders. And that is when the fun really begins |
| Full #EUCO still on for 6pm CET tomorrow, says EU source - for now. | Full #EUCO still on for 6pm CET tomorrow, says EU source - for now. |
| Updated | Updated |
| at 12.08am BST | at 12.08am BST |
| 11.56pm BST | 11.56pm BST |
| 23:56 | 23:56 |
| The FT’s Duncan Robinson confirms that the eurogroup is far from a deal. | The FT’s Duncan Robinson confirms that the eurogroup is far from a deal. |
| Despite the public optimism, officials from both camps are frustrated. "Not very" close to agreement seems to be the summary. #eurogroup | Despite the public optimism, officials from both camps are frustrated. "Not very" close to agreement seems to be the summary. #eurogroup |
| 11.54pm BST | 11.54pm BST |
| 23:54 | 23:54 |
| Spain’s Luis de Guindos spoke to the media before hotfooting it into the darkness. | Spain’s Luis de Guindos spoke to the media before hotfooting it into the darkness. |
| I asked Spain's FINMIN De Guindos if he's optimist: We're going to try till the end (Meeting) Could have been better, but also worse #Greece | I asked Spain's FINMIN De Guindos if he's optimist: We're going to try till the end (Meeting) Could have been better, but also worse #Greece |
| Updated | Updated |
| at 11.55pm BST | at 11.55pm BST |
| 11.51pm BST | 11.51pm BST |
| 23:51 | 23:51 |
| I missed Christine Lagarde’s departure, but a replay shows that the IMF chief only gave a wave to the cameras. | I missed Christine Lagarde’s departure, but a replay shows that the IMF chief only gave a wave to the cameras. |
| Updated | Updated |
| at 11.53pm BST | at 11.53pm BST |
| 11.46pm BST | 11.46pm BST |
| 23:46 | 23:46 |
| The Greek fin min @tsakalotos leaving the #EU building Lex after a hard day. Photo credits @ArisoikoPhoto pic.twitter.com/IzfXmEPwQ4 | The Greek fin min @tsakalotos leaving the #EU building Lex after a hard day. Photo credits @ArisoikoPhoto pic.twitter.com/IzfXmEPwQ4 |
| 11.34pm BST | 11.34pm BST |
| 23:34 | 23:34 |
| 11.32pm BST | 11.32pm BST |
| 23:32 | 23:32 |
| Here comes Euclid Tsakalotos.....and there goes Euclid Tsakalotos! | Here comes Euclid Tsakalotos.....and there goes Euclid Tsakalotos! |
| Greece’s finance minister exited the building at a marching pace, mobile phone glued to his ear, deep in conversation. Not a word for the press, alas. | Greece’s finance minister exited the building at a marching pace, mobile phone glued to his ear, deep in conversation. Not a word for the press, alas. |
| 11.30pm BST | 11.30pm BST |
| 23:30 | 23:30 |
| Here’s a video clip of Pierre Moscovici’s comments tonight: | Here’s a video clip of Pierre Moscovici’s comments tonight: |
| #Eurogroup Doorstep European Commissioner @pierremoscovici I always keep my hope #Greece http://t.co/CPqacZODFZ pic.twitter.com/3dvNujme73 | #Eurogroup Doorstep European Commissioner @pierremoscovici I always keep my hope #Greece http://t.co/CPqacZODFZ pic.twitter.com/3dvNujme73 |
| 11.28pm BST | 11.28pm BST |
| 23:28 | 23:28 |
| Some ministers are walking past the media and refusing to speak, including Ireland’s Michael Noonan. I guess they’ve got nothing encouraging to say. | Some ministers are walking past the media and refusing to speak, including Ireland’s Michael Noonan. I guess they’ve got nothing encouraging to say. |
| Mario Draghi just got into a car without comment. | Mario Draghi just got into a car without comment. |
| 11.25pm BST | 11.25pm BST |
| 23:25 | 23:25 |
| 11.24pm BST | 11.24pm BST |
| 23:24 | 23:24 |
| Here comes Pierre Moscovici....and actually he (for once) doesn’t look too upbeat. | Here comes Pierre Moscovici....and actually he (for once) doesn’t look too upbeat. |
| He tells reporters (in French) that there is always hope. | He tells reporters (in French) that there is always hope. |
| #Moscovici: "I always keep hope". Doesn't sound so optimistic. #Eurogroup | #Moscovici: "I always keep hope". Doesn't sound so optimistic. #Eurogroup |
| #Eurogpoup there's always tommorow, there's always hope, says Pier Moscovici, leaving Eurozone Finance Ministers' 9-hour meeting | #Eurogpoup there's always tommorow, there's always hope, says Pier Moscovici, leaving Eurozone Finance Ministers' 9-hour meeting |
| 11.20pm BST | 11.20pm BST |
| 23:20 | 23:20 |
| Michel Sapin’s optimism is unquenchable! | Michel Sapin’s optimism is unquenchable! |
| French finance minister asked if he is still optimistic as he leaves. "Always!" #Greece | French finance minister asked if he is still optimistic as he leaves. "Always!" #Greece |
| 11.20pm BST | 11.20pm BST |
| 23:20 | 23:20 |
| Finland’s Alex Stubb told reporters that tonight’s meeting made ‘good progress’ | Finland’s Alex Stubb told reporters that tonight’s meeting made ‘good progress’ |
| RTRS - EUROGROUP "MAKING GOOD PROGRESS" ON GREECE -FINLAND'S STUBB | RTRS - EUROGROUP "MAKING GOOD PROGRESS" ON GREECE -FINLAND'S STUBB |
| This is the same Alex Stubb who apparently can’t back a third bailout? | This is the same Alex Stubb who apparently can’t back a third bailout? |
| 11.18pm BST | 11.18pm BST |
| 23:18 | 23:18 |
| Dijsselbloem: It is still very difficult | Dijsselbloem: It is still very difficult |
| Jerosn Dijsselbloem, head of the eurogroup, is speaking now at the exit. | Jerosn Dijsselbloem, head of the eurogroup, is speaking now at the exit. |
| He confirms that the meeting is adjourned until 11am tomorrow morning. | He confirms that the meeting is adjourned until 11am tomorrow morning. |
| We have had an in-depth discussion of the Greek proposals. The issue of credibility and trust was discussed, and also of course the financial issues involved. | We have had an in-depth discussion of the Greek proposals. The issue of credibility and trust was discussed, and also of course the financial issues involved. |
| It is still very difficult, but work is still in progress. | It is still very difficult, but work is still in progress. |
| 11.13pm BST | 11.13pm BST |
| 23:13 | 23:13 |
| #eurogroup now very badly split. getting nasty. could be rowdy summit sunday. renzi to round on merkel, enough humiliation. and hollande? | #eurogroup now very badly split. getting nasty. could be rowdy summit sunday. renzi to round on merkel, enough humiliation. and hollande? |