EU’s summit on Greece cancelled

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>A planned meeting of European Union leaders has been cancelled as crisis talks continue about Greece&&num;8217&semi;s place in the single currency zone&period;<&sol;p>&NewLine;<p>All 28 leaders&comma; includingTaoiseach Enda Kenny&comma; had been expected to attend a meeting in Brussels&comma; but now talks will be confined to politicians from the eurozone countries&period;<&sol;p>&NewLine;<p>A marathon session of talks involving finance ministers from the eurozone nations ended without agreement on Athens&&num;8217&semi; proposals&comma; which offer austerity measures in exchange for a fresh bailout&comma; and will resume later&period;<&sol;p>&NewLine;<p>European Council president Donald Tusk confirmed he had cancelled the meeting of all 28 members but said the leaders of the eurozone nations would meet this afternoon &&num;8220&semi;and last until we conclude talks on Greece&&num;8221&semi;&period;<&sol;p>&NewLine;<p>The announcement that the European Council summit had been cancelled came after Mr Tusk spoke to the leader of the eurozone finance ministers&&num;8217&semi; group&comma; Jeroen Dijsselbloem&period;<&sol;p>&NewLine;<p>Some eight hours of talks yesterday failed to make a breakthrough&comma; with eurozone nations citing a lack of trust in Greece&&num;8217&semi;s radical Syriza government implementing the austerity measures promised in exchange for a third bailout&period;<&sol;p>&NewLine;<p>Greek prime minister Alexis Tsipras has offered to implement tax rises and spending cuts in return for a financial lifeline of €53&period;5bn to stave off bankruptcy and the possibility of crashing out of the euro&period;<&sol;p>&NewLine;<p>Eurogroup president Mr Dijsselbloem said&colon; &&num;8220&semi;We had an in-depth discussion on Greek proposals&period; The issue of credibility and trust was discussed and also&comma; of course&comma; the financial issues involved&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The Dutch finance minister added&colon; &&num;8221&semi; It is still very difficult&comma; but work is still in progress&period;&&num;8221&semi;<&sol;p>&NewLine;<p>In Finland&comma; there were reports that the coalition government was refusing to back further assistance for Greece&period;<&sol;p>&NewLine;<p>In a sign of the increasingly desperate attempts to find a solution to the crisis&comma; reports suggested that Germany was pushing the idea of a temporary five-year long Greek exit &&num;8211&semi; Grexit &&num;8211&semi; from the eurozone&period;<&sol;p>&NewLine;<p>Theodoros Mihopoulos&comma; who heads Mr Tsipras&&num;8217&semi; office&comma; said the report in Germany&&num;8217&semi;s Frankfurter Allgemeine Sonntagszeitung newspaper &&num;8220&semi;is completely denied&&num;8221&semi;&period;<&sol;p>&NewLine;<p>According to the report&comma; the German finance ministry also proposed that the Greek government sells off some €50bn in unspecified property assets to pay off debts&period;<&sol;p>&NewLine;<p>The report said that in exchange&comma; Greece would remain in the EU and receive additional &&num;8220&semi;growth enhancing&comma; humanitarian and technical assistance&&num;8221&semi;&period;<&sol;p>&NewLine;<p>With Greece running out of money&comma; and facing a July 20 demand for a €3bn payment to the European Central Bank&comma; this weekend&&num;8217&semi;s meetings in Brussels could hold the key to the country&&num;8217&semi;s economic future&period;<&sol;p>&NewLine;<p>Bank closures in Greece have been extended until Monday and Greeks are limited to withdrawing just €60 per day after the imposition of capital controls&period;<&sol;p>&NewLine;<p>Tourists have been warned to take sufficient cash to cover expected costs and emergencies and to ensure they have supplies of their usual prescription medicines in case of shortages&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd368a7e580">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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