(MENAFN- Kuwait News Agency (KUNA)) Leaders of the 19-member Eurozone have set Thursday as the deadline for the Greek government to set out in detail its proposals for a comprehensive and specific reform agenda to resolve its debt crisis.
Speaking at a news conference after an emergency Eurzone summit late Tuesday, the President of the European Council, Donald Tusk, said the Greek proposal will be assessed by the three institutions (the European Commission, the European Central Bank and the International Monetary Fund) and the outcome of the analysis presented to the Eurogroup.
He also announced that the leaders of the 28-member EU will meet in Brussels on Sunday in a final attempt to find a solution to the Greek debt crisis.
Tusk said he called on all leaders to try to find consensus, with no losers or winners. "If this does not happen it will mean the end of the negotiations with all the possible consequences, including the worst-case scenario, where all of us will lose," he warned.
"Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system. And for sure, it will be most painful for the Greek people. I have no doubt that this will affect all Europe also in the geopolitical sense. If someone has any illusion that it will not be so, they are naive," added Tusk.
The Eurogroup leaders in a statement said after Sunday's Greek referendum, Prime Minister Alexis Tsipras committed to present a new request for a programme within the framework set by the ESM (Europeans Stability Mechanism) Treaty, including strict policy conditionality. On his part, Tsipras told journalists that "the discussion was held in a positive atmosphere." "The process will be fast, it starts in the coming hours with the aim of concluding it by the end of the week, at the latest," he added. (end)
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