Greece given final deadline to submit new proposal

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At conferences in Brussels, final talks regarding Greece’s need to set a proposal, either an agreement must be reached or Greece’s banks face going into liquidation next week.
The EU have given Greece an ultimatum for Thursday this week to create and propose new deals which must be accepted by creditors, to make it final, EU Ministers have arranged a full summit meeting on Sunday 12.07.15.

Donald Tusk, the EC President said this was now an extremely pivotal time for the Eurozone, if not the most critical in its history. It was arranged that Greece would submit new ideas on Tuesday after the referendum in which a clear “no to further austerity measures” was spoken by the Greek people but no new proposals were submitted.

‘The final deadline ends this week’ Mr Tusk stated after more emergency consultations in Brussels. On Sunday, a meeting of all 28 members of the EU will be held and an agreement has to be reached, Eurozone finance ministers have to make a decision which may leave Greece a non-member EU state.