European Leaders Set Weekend Deadline for Greece

In Brussels, European leaders told finance ministers from the European countries to conclude a debt financing agreement with Greece over the weekend, just days before Athens has to meet a crucial repayment deadline that carries the risk of bankruptcy and euro-exit. Agreement on a draconian austerity package is vital for creditors to unfreeze 7.2 billion euros in bailout money that would get Greek Prime Minister Alexis Tsipras off the hook for the time being.
"Leaders expect the Euro group to conclude this process at their meeting on Saturday," EU President Donald Tusk said early on Friday, after chairing a summit in Brussels. Leaders of the 19 Euro nations, he said, would not meet in Greece again until a deal is done.
Despite the threat of leaving the Eurozone, PM Alexis Tsipras expresses hopes for arriving at an agreement. 
"European history is full of disagreements, negotiations and at the end, compromises," Tsipras said. "So, after the comprehensive Greek proposals, I am confident we will reach a compromise."
In Washington, the International Monetary Fund (IMF) said Greece would not get any extra time to make the debt repayments due next Tuesday.
"We're expecting the payment to be made on June 30,"said IMF spokesman Gerry Rice.
26 June 2015 18:13