ATHENS: Greece Prime Minister Alexis Tsipras heads to Brussels in a last-ditch attempt to secure a rescue from European leaders and keep his country in the euro region.
German Chancellor Angela Merkel said Monday “time is running out” as she and French President Francois Hollande responded to Greece’s referendum that backed Tsipras’s anti-austerity stance. Finance ministers gather at 1 p.m., preparing the ground for leaders to start a meeting at 6 p.m.
European leaders must decide whether they can negotiate with Tsipras, who blindsided them by walking out of talks on June 26 to call the referendum, or prepare for the first departure from the currency bloc founded 16 years ago. “Financially, the euro area has nothing much to salvage in Greece and therefore has even less reason to compromise”
“Financially, the euro area has nothing much to salvage in Greece and therefore has even less reason to compromise,” Jacob Kirkegaard, a senior fellow at Peterson Institute in Washington, said in a blog post.
