"This Is The Most Critical Moment In Our History" - Five Days To Save Greece From The Abyss...
"This Is The Most Critical Moment In Our History" - Five Days To Save Greece From The Abyss Warn European Leaders
Creditor powers ready plans to deal with humanitarian crisis and a banking collapse in Greece as agreement remains perilously out of reach
By Mehreen Khan, Matthew Holehouse, Brussels
11:50PM BST 07 Jul 2015
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The European Union faces "the most critical" moment in its 64-year history, after leaders warned they had five days to prevent Greece from careering out of the euro and into a full blown humanitarian crisis.
"Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system", said Donald Tusk, head of the European Council, after talks between Greece and its partners ended without agreement on Tuesday night.
Brussels has now convened a full emergency summit of all 28 European leaders on Sunday to thrash out an deal to keep Greece in the single currency.
"I have no doubt that this is the most critical moment in the history of the European Union," said Mr Tusk.
He dismissed any notion that letting Greece leave the euro would not have irreparable geopolitical consequences for the continent.
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http://www.telegraph.co.uk/finance/economics/11725041/Five-days-to-save-the-eurozone-from-disaster.html
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