I will read out the statement agreed by leaders at tonight's Euro Summit:
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We met tonight to discuss the serious situation in Greece. We noted that the euro area authorities stand ready to do whatever is necessary to ensure the financial stability of the euro area as a whole.
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Following the Greek referendum, Prime Minister Tsipras committed to present a new request for a programme within the framework set by the ESM Treaty, including strict policy conditionality.
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We agreed to urgently examine whether it is possible to establish a basis for finding an agreement that respects existing commitments and our common rules.
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The Greek government will on Thursday 9 July at the latest set out in detail its proposals for a comprehensive and specific reform agenda for assessment by the three Institutions to be presented to the Euro Group.
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The Heads of State or Government will meet on Sunday 12 July.
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Let
me add a few words from my own perspective. All sides of the
negotiations share the responsibility for the current status quo. That
is why today I called on all leaders to try to find consensus, which
will be our common success, with no losers or winners. If this does not
happen it will mean the end of the negotiations with all the possible
consequences, including the worst-case scenario, where all of us will
lose. Our inability to find agreement may lead to the bankruptcy of
Greece and the insolvency of its banking system. And for sure, it will
be most painful for the Greek people. I have no doubt that this will
affect all Europe also in the geopolitical sense. If someone has any
illusion that it will not be so, they are naive.
The
stark reality is that we have only five days left to find the ultimate
agreement. Until now, I have avoided talking about deadlines. But
tonight I have to say loud and clear that the final deadline ends this
week. All of us are responsible for the crisis and all of us have a
responsibility to resolve it.
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