Advertisement

News

Greece fails to make new proposals for EU loans

The Taoiseach says the people of Greece are "suffering" as a result of the debt crisis - but says he...
TodayFM
TodayFM

6:36 PM - 7 Jul 2015



Greece fails to make new propo...

News

Greece fails to make new proposals for EU loans

TodayFM
TodayFM

6:36 PM - 7 Jul 2015



The Taoiseach says the people of Greece are "suffering" as a result of the debt crisis - but says he'll need to hear from the Greek prime minister to decide what Europe does to help it.

Enda Kenny and other prime ministers are meeting in Brussels tonight, where they had been expected to consider Greece's latest proposals for a vital bailout.

Arriving at the summit, the Taoiseach seemed to put pressure on Greece to make a proposal urgently:

Other EU leaders have also voiced their dismay at the move by Greece to delay its proposals until Wednesday morning.

Yesterday the Greek prime minister Alexis Tsipras had told the German chancellor Angela Merkel that his government would bring new proposals to the table today.

The delay will mean more pressure on Greece's banks, which are moving slowly towards depleting their cash reserves.

Banks are due to re-open again on Thursday morning but will probably not have enough cash to cope with any major withdrawal of deposits. 

However the ECB has capped its emergency lending to Greek banks, and it's thought that it's unlikely to raise that cap without at least some indication that a deal to avert a full Greek default can be reached.

Our political correspondent Gavan Reilly reports:



Read more about

News

You might like