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As expected "NO DEAL" once more last night as Euro zone finance ministers held meeting in Luxembourg.
- Valdis Dombrovskis, the European Commission vice president in charge of euro issues, said that there was no deal yet, however asked Greece to step up efforts to close a deal.
According to Greek officials, Athens do not have ample money to pay off IMF debt at the end of month.
Greece will still have another month left after the payment deadline as it is general grace period and as of now it is really not clear, how far the Greek government would go in order to secure their demands in negotiation process.
- At a press conference Jeroen Dijsselbloem, the Dutch finance minister and Euro group chair said that there is still time left, before a deal can be reached but warned that progress has been very little and no agreement is yet at sight.
European council president Donald Tusk, summoned all Euro zone presidents and Prime Ministers to Brussels on Monday to find a solution to Greece's bailout standoff. Meeting is expected to begin at 7 pm local time.
Euro is giving up its gains today, however could get serious boost if a deal is sealed. Euro is currently trading at 1.131 against dollar.
