Advertisement

Finance ministers prepare for Brussels meeting to discuss possible third Greek bailout

Finance ministers from around Europe are preparing for a make-or-break meeting to decide whether ...
Newstalk
Newstalk

21.45 10 Jul 2015


Share this article


Finance ministers prepare for...

Finance ministers prepare for Brussels meeting to discuss possible third Greek bailout

Newstalk
Newstalk

21.45 10 Jul 2015


Share this article


Finance ministers from around Europe are preparing for a make-or-break meeting to decide whether Greece will remain in the euro.

They'll meet in Brussels tomorrow to hear from technical advisors, who have spent the day going over the details of Greece's final plans for a €52bn bailout.

If there's no bailout deal by Monday morning, the ECB is expected to cut its cash lifeline for Greek banks - which would force Greece to leave the single currency.

Advertisement

Quentin Peel of foreign affairs think tank Chatham House says even if the technical advisors are happy, it's not clear if all other countries will sign up:

Meanwhile Greek Prime Minister Alexis Tsipras is attempting to secure approval for the Greek parliament for his latest proposals.

Though he has been criticised for proposing even more cuts than the creditors' proposal which was rejected in Sunday's vote, it is likely to pass the house with the support of SYRIZA's left bloc.

Tsipras has defended the latest proposals, saying he does not have a mandate to leave the eurozone.

Included in the documents are concessions which would increase VAT on remote islands and increase pension cuts - though less burden has been placed on the poor, and the proposals are intended to come with extra funding and debt restructuring.


Share this article


Read more about

News

Most Popular