Emergency EU talks suspended as Greek bailout discussions continue

A MEETING planned for today (Sunday 12) between 28 European Union leaders has been called off as crisis talks regarding Greece’s place in the eurozone continue.

European Council President Donald Tusk tweeted: “I have cancelled EUCO (the EU summit) today” and said that politicians from the 19 eurozone countries would be meeting this afternoon, meaning there is a chance that a deal could be on the books.

The EUCO meeting was to discuss emergency measures in case Greece fell out of the eurozone including humanitarian aid and how to get money into the country, yet the change of plan suggests discussions on the latest proposals from the country could be going better than expected and agreements may be in sight.

Measures put forward, which were approved by the Greek parliament on Friday, reportedly include an offer to implement tax rises and spending cuts in exchange for a €53.5 billion bailout to prevent bankruptcy