Monday’s Eurogroup meeting, summit ‘critical and risky’

While Greek Prime Minister Alexis Tsipras wants to “decisively put an end to talk of a Grexit”, Eurozone ministers and leaders are all flying out to Brussels on Monday in the hope of seeking some sort of agreement that will satisfy both Greece and the creditors.

“We seek an agreement that will end the uncertainty, and decisively put an end to talk of a Grexit so that we can capitalize on positive economic indicators and take advantage of our real growth prospects,” Tsipras had told his parliamentary group of Syriza on Wednesday.

But a day later, a meeting of the Eurogroup concluded without an agreement leaving Council President Donald Tusk no other option but to convene an emergency Euro Summit on Greece.

“It is time to urgently discuss the situation of Greece at the highest political level,” Tusk told the heads of state and government.

MaltaToday is informed that Eurozone ministers are now being “led to expect a top-down generous package which the Greeks would be hard pressed to accept”. Further pressure on Greece is expected to originate from the financial markets.

According to Bloomberg, Tspiras insisted that a deal to avert a default can be reached.

“We aimed that final negotiations take place at the highest political level in Europe, and we are now working for the success of this summit,” Tsipras said in a statement. “Those who bank on crisis and terror scenarios will be proven wrong.”

But according to Malta’s finance minister Edward Scicluna, the Greek stance all along has been “that an agreement was (is) close, or that the differences with the institutions are small”.

Scicluna said that Greece always did this “in the face of evidence from the three institutions to the contrary”.

The minister said that nobody was taking a possible Greek exit lightly and enormous efforts were being made behind the scenes by various groups and even individuals to bridge the gap.

“[…]Next Monday's Eurogroup meeting and subsequent Leaders' Summit critical and risky. If it goes wrong there would be little hope left for a political comeback,” the minister warned.

In his native country, Tsipras says Greece “will not be swayed by talk of anxiety and the ‘pressure’ of the current moment”.

“Comrades, we are entering the final stretch. The final stretch, one might say, is where the real negotiations begin. The ability of the Greek Government to achieve a fair solution with determination, with unwavering commitment to its goals, will be judged by the result.  Europe’s ability to stop shooting itself in the foot, to stop the self-inflicted wounds and instead, champion the values ​​of solidarity and democracy, will also be judged. I believe that it will do so.

“This challenge is not ours alone. It is, of course, a challenge facing the Greek people and a challenge facing Greece, but it is not only our challenge–it is a challenge facing all the people of Europe.”