A CRUCIAL meeting to discuss emergency measures should Greece crash out of the eurozone has been CANCELLED amid signs a deal could soon be struck to save the debt-stricken country.
European Council President Donald Tusk announced this morning that he had cancelled a planned meeting of 28 EU leaders which would discuss the fallout should Greece find itself exiting the single currency, according to Sky News.
But now only a summit of only 19 eurozone leaders, focusing on finding a solution to the bailout crisis, will go ahead this afternoon as planned – suggesting a deal could be clinched sooner than expected.
Mr Tusk said in a tweet: “I have cancelled EUCO (the European Union summit) today.”
Last night the German finance minister Wolfgang Schaeuble reportedly argued that Greece could be given a five-year “time out” period from the eurozone.
Mr Schaeuble is said to have suggested two possible options for Athens – one which would see Greece dramatically improve its reform proposals and another which would see the country talking a break from the single currency, while still remaining a member of the EU, so it can restructure its debt, according to a paper obtained by Frankfurter Allgemeine Sonntagszeitung.
Full article: Done deal? European Leaders’ meeting cancelled amid signs Greece COULD stay in eurozone (Express)