FXStreet (Buenos Aires) – The European Union summit planned for this Sunday has been cancelled by the European Council president Donald Tusk, as Eurozone finance ministers failed to reach an agreement on Saturday and resumed their talks today. Tusk has twitted that an EU Summit will start today at 16:00 GMT and last until “we conclude talks on Greece.”
Nevertheless, Greece future within the European Union seems doomed today, as none of the country members is satisfied with the latest proposal. Among others, Jeroen Dijsselbloem has said that negotiations are “very difficult”, while the Finnish minister Alexander Stubb said that ” the conditionality presented by the Greeks is simple not enough.” Italian Finance Minister Pier Carlo Padoan said that creditors just don’t trust the Greek government will do what it says it will do on the economic reform front.
It’s hardly unlikely a deal will be reached today, as the finance ministers are discussing the base of a deal, and failing on it. For the most, they are claiming that the troubled country has broken their trust, and demanding even more austerity and guarantees, forcing the country towards a total collapse.
Things are getting beyond dark for the future, not only of Greece but for Europe as a whole union. But seems that politicians are not aware that if Greece falls, they will all fall along.
(Market News Provided by FXstreet)