Eurozone leaders will hold an emergency summit on Monday to try to avert a Greek default after no deal emerged from a meeting Thursday of the 19 eurozone finance ministers.
Cash withdrawals from Greece have accelerated and government revenue is scarce 12 days before Greece must make a crucial debt repayment to the International Monetary Fund.
“Regrettably … too little progress has been made. No agreement is in sight,” Jeroen Dijsselbloem, chairman of the Eurogroup, told a news conference after the meeting. Ministers sent a strong signal that it is up to Greece to make new proposals, he said.
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