Eurogroup meets amid fears of Greek default

Eurozone finance ministers gathered on Monday in Brussels, ahead of the EU leaders’ summit, for emergency talks over Greece’s bailout and the latest, last-minute proposals to stave off default from the Greek government.

The Eurogroup noted that not enough progress had been achieved in talks between the Greek authorities and the Troika on Greece’s reform plan. Greece’s current agreement with the European Financial Stability Facility (EFSF) expires on 30 June 2015.

“We have an inclination of what Greece has been looking for. But as I said there seems to be a little bit of a Monday when we have wasted a lot of air miles both on the finance ministers’ side and on the prime ministers’ side, because I do not foresee a breakthrough today,” said Finland’s Finance Minister Alexander Stubb.

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