Buying time: EU wants deal on Greece by the end of the week


French President Francois Hollande, Greek Prime Minister Alexis Tsipras, and Spanish Prime Minister Mariano Rajoy at the EU Council in Brussels, 22 June 2015.

Greece faces a 1.6 billion euro repayment to the IMF on June 30 which it probably cannot make without help from its creditors.

Complacency and careful political harmony was the result of Monday’s extraordinary summit on Greece. European Commission President Jean-Claude Juncker announced, towards midnight, that there was progress in the discussions with Greece and that the Eurogroup would have "to present final conclusions on Wednesday evening”, so that the EU leaders could have them ready when they meet for the regular summer summit on Thursday.

"I simply wanted to say that the proposals that the Greek government was...

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