Greece’s international creditors poured cold water on the chances of a breakthrough at an emergency summit today aimed at finding a deal to save Athens from default and a possible exit from the euro.European paymaster Germany warned that eleventh-hour reform proposals submitted by leftist Greek premier Alexis Tsipras were not “substantial”, with France seeing a breakthrough only in coming days.
The rainy weather reflected the mood in Brussels as a succession of eurozone ministers dampened earlier market-boosting hopes that leaders meeting later could seal a deal to end the five-month standoff.“I do not know of any new proposals. We do not have any substantial proposals until now,” said Wolfgang Schaeuble, the hardline Finance Minister of German Chancellor Angela Merkel.