LUXEMBOURG (Sputnik) — On Thursday, following a Eurogroup meeting that failed to reach a compromise, President of the European Council Donald Tusk announced that the urgent Euro summit would be held Monday.
Additional #Eurogroup meeting at 3 pm on Monday 22 June in Brussels to prepare eurozone summit
— Jeroen Dijsselbloem (@J_Dijsselbloem) 19 июня 2015
Athens is currently negotiating debt relief terms with its international creditors, comprising the European Commission, the European Central Bank and the International Monetary Fund. Its current bailout program expires on June 30.
Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the three major international creditors.
On Thursday, EU Commissioner on Economic and Financial Affairs Pierre Moscovici said that the failure to reach an agreement in talks between Greece and international creditors before the deadline could lead to catastrophic consequences.
