Biodun Iginla, BBC News

Biodun Iginla, BBC News

Sunday, July 12, 2015

Greece debt crisis: EU summit cancelled as talks continue

by Isabelle Roussel and Biodun Iginla, BBC News, Brussels

12 minutes ago


A summit of all European Union members planned for Sunday has been cancelled as "very difficult" talks over a third bailout deal for Greece continue.
Eurozone finance ministers adjourned the talks last night and will resume them shortly.
European Council president Donald Tusk said a meeting of Eurogroup leaders would go ahead at 14:00GMT and "last until we conclude talks on Greece".
Without a deal, it is feared Greece could crash out of the euro.
Marathon talks on Saturday ended without agreement and Eurogroup leader Jeroen Dijsselbloem described negotiations as "very difficult".
"We have had an in-depth discussion of the Greek proposals, the issue of credibility and trust was discussed and also of course financial issues involved, but we haven't concluded our discussions," Mr Dijsselbloem, who heads the Eurogroup of finance ministers, told reporters.
"It is still very difficult but work is in progress."
Talks are due to resume at 09:00 GMT.
European Commission Vice President Valdis Dombrovskis said it was "utterly unlikely" a mandate would be achieved in Sunday's meeting to start formal negotiations on the third bailout.
 
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