EU cancels summit to stop Greece eurozone exit

The EU has cancelled a full 28-nation summit to decide Greece’s fate in the single European currency as eurozone finance ministers attempt to reach a deal with Athens in “difficult” reform-for-bailout talks.
European Council President Donald Tusk said on Sunday that a summit of 19 eurozone leaders will still be held and continue until talks with Greece are concluded.
The move came after divided eurozone finance ministers held talks on Greece late into the night on Friday, telling their Greek counterpart that Athens must go beyond an initial set of proposals for reforms if it wants them to open negotiations on a bailout.
Several sources said there was consensus among the other 18 ministers around the table during the “exceptionally difficult” talks that the leftist government in Athens must take further steps to convince them it would honour any new debts.
Greek officials, European finance ministers and leaders held talks in Brussels to decide whether to negotiate a third bailout for Greece to steer it away from imminent bankruptcy.
Credit: Aljazeera