Comments from Dijsselbloem and Lagarde:
Dijsselbloem:
- Took stock of Greek talks, too little progress has been made, no agreement in sight
- We sent a strong signal, it is up to Greece to engage and send a new proposal
- It is still possible to find an agreement before the end of the month
- Ball is clearly in Greece's court
- Called it the 'last opportunity'
- Dijsselbloem says it's 'unthinkable' that a deal would be agreed, legislated, and disbursed before month end. "impossible" too. Hints that some kind of mini-deal is best hope that would buy a bit of time.
Separately, RTRS reports there will be a Eurozone leaders' summit in Greece on Monday. This has been rumored for about a week but this is the first talk the meeting will be in Greece, which means they're rolling out the big guns and going right to the main stage.
Lagarde:
- Greece has to present tangible, credible proposals, not smoke and mirrors
- The smaller the Greek adjustment, the more financing needed for Greece
- We are waiting, the institutions have put together sensible proposals for Greece, easing previous conditions