Greece has weekend debt deal deadline

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Death of the euro graffati in Greece

leaders want a debt financing agreement with Greece agreed over the weekend, just days before Athens has to meet a crucial repayment deadline that carries the risk of bankruptcy and euro-exit.

A deal on a draconian austerity package is vital for creditors to unfreeze €7.2bn in bailout money that would get Prime Minister Alexis Tsipras off the hook for the time being.

“Leaders expect the eurogroup to conclude this process at their meeting on Saturday,” EU president Donald Tusk said early today, after chairing a summit in Brussels.

He said leaders of the 19 euro nations would not meet in Greece again until a deal is done.

Earlier yesterday, a meeting of eurozone finance ministers broke up over disagreement on the Greek rescue package, intensifying doubts about whether Athens can pay the International Monetary Fund debts worth €1.6bn next Tuesday.

“European history is full of disagreements, negotiations and at the end, compromises,” Mr Tsipras said.

“So, after the comprehensive Greek proposals, I am confident we will reach a compromise.”

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