In Greece talks between government officials are taking place under the pressure of the ultimatum that was given by the president of the Euro Council, Donald Tusk. Mr. Tusk used no uncertain terms to clarify that either Greece will agree to discuss accepting the creditors’ proposals as a basis or the Eurozone will start preparing for a Greek bankruptcy; “We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default.”
Although the Greek government answered that it considers ultimata to be unnecessary, predictable and expected it is certain that today’s cabinet meeting will not ignore them.
The President of the Commission, Jean Claude Juncker has started a new round of discussions with A. Merkel, F. Hollande and other European leaders while he is expected to talk to Mr.Tsipras as soon as the later returns from his trip to Russia. In an interview which he gave to Spiegel; Mr. Juncker stated that he doesn’t understand the Greek Prime Minister and that “there are some in the Greek government who have misunderstood and believe that there is someone in Europe who can pull a rabbit out of the hat in the end. But that is not the case. I have warned Mr. Tsipras many times he shouldn't depend on me being able to prevent a failure of the talks if that isn't desired by the other side. We should do everything we can to prevent a Grexit, but to do so, both sides must exert themselves. In the end, I would prefer the rabbit to bear the Greek national colors.”
Negotiations Abound in the Hours Before Monday’s Euro Summit.
Negotiations, discussions and preparations are rife during this Saturday morning as Greece and its creditors are preparing for the crucial Euro Summit of Monday where the leaders of the Eurozone will meet. The Eurogroup will also meet just before in order to find some common ground between the two sides.
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