Greece: A Look at the Major Disagreements Between the Country and European Leaders -

Some of Europe’s most powerful money leaders said that the ball is in Greece’s court to prevent a nationwide catastrophe. The Eurogroup, comprised of the ministers of the euro area member states, said at the end of their meeting today that they are waiting for a letter from Greece with a new financing proposal. “In the mind of the Eurogroup, the problems of Greece really do need credible reforms to deal with those problems,” said Eurogroup president and Dutch finance minister Jeroen Dijsselbloem to reporters. “Therefore, we need to hear from the Greek government to hear if they have such reforms in mind. … That’s what we will hear very, very soon.” Greece has at least two ticking time bombs: An immediate need for financing for its cash crunch and the July 20 deadline when the country is due to pay 3.5 billion euros to the European Central Bank. As Eurozone leaders also meet today for an emergency summit, Greece’s creditors and the country’s leadership still disagree on a handful of major issues. The Eurozone monetary union includes 19 of the 28 European Union member states that have adopted the euro as their currency.

Read More >