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		</div><p>EU officials are cautious about the prospects of reaching a deal to keep Greece from defaulting and falling out of the currency union.</p>
<p>Ahead of an emergency summit in Brussels, German Chancellor Angela Merkel warned against expecting too much, saying “there are still a lot of days left to reach a decision”.</p>
<p>Greece needs more loans from its creditors, which include its fellow eurozone states and the International Monetary Fund, in time for June 30, when it faces a debt repayment it cannot afford.</p>
<p>The country has been negotiating for four months what economic reforms it should make to get the money.</p>
<p>After Monday’s meetings of eurozone finance ministers and European leaders, another leaders’ summit is planned for Thursday and Friday.</p>
<p>Jeroen Dijsselbloem, who heads the eurozone meetings of finance ministers, said it would be impossible to get “a final assessment” on Monday.</p>
<p>Ahead of the meetings, Greek Prime Minister Alexis Tsipras made new proposals on the economic reforms and budget cuts his country would accept.</p>
<p>European Commission President Jean-Claude Juncker said they were a sign of progress but warned that “we are not yet there”.</p>
<p>No details of the proposals were made public, but investors were hopeful that they represented a long-awaited compromise.</p>
<p>Despite the markets rallying, tension was palpable in Greece, where people flocked to cash machines to withdraw money. The concern is that a debt default by Greece could destabilise the country enough that it might have to eventually leave the euro.</p>
<p>To support Greek banks in the face of growing money withdrawals, the European Central Bank increased the amount of emergency credit it allows the banks to draw on, a banking official said.</p>
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