World News
Debt crisis: Greece faces critical 24 hours─── 13:37 Mon, 22 Jun 2015
Brussels - Greece faces a critical 24 hours as European leaders hold an emergency summit in Brussels that could break the deadlock around the country's debt crisis.
Greek PM Alexis Tsipras has ruled out pension cuts, higher power rates, and an excessive budget surplus. Yesterday, he set out new proposals to try to prevent a default on a €1.6bn IMF loan.
One European official said the proposals held plenty of promise. Greece must repay the loan by the end of June or risk crashing out of the single currency and possibly the EU.
Talks have been in deadlock for five months. The European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock the final €7.2bn tranche of bailout funds until Greece agrees to economic reforms.
BBC
