According to European officials who spoke to Reuters, unless Greece submits a new set of proposals, the Finance Ministers of the European countries will have to discuss how they will manage the effects of a possible Greek bankruptcy,
The Eurogroup is scheduled to begin at 13:00 CET and it task will be to prepare the grounds for the talks that will place in the Euro Summit later on.
The same officials claimed that in order to achieve a deal Greece must come up with new proposals about dealing with pensions, taxation and the VAT.
Reuters concludes that it is highly unlikely that Greece will be able to present ideas and proposals that will satisfy its’ creditors.