The Eurozone has given Greece until Thursday to come to an agreement with their creditors.
European Council President Donald Tusk confirmed that “the final deadline is this week,” after emergency talks in Brussels. He stated that it was the “most critical moment in the history of the eurozone”.
Whilst there were expectations that Greece would present new proposals on Tuesday, however none were forthcoming.
On Sunday, a meeting of all 28 members of the EU will be held and Greece’s future will be decided. In comments to French TV on Wednesday morning, the EU’s Economy Commissioner, Pierre Moscovici, said agreement with Greece was “indispensible” and a Greek exit from the Eurozone must be avoided.