This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-33215482
The article has changed 5 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Greece debt crisis: Bank boss says 'insane' not to reach deal | Greece debt crisis: Bank boss says 'insane' not to reach deal |
| (about 1 hour later) | |
| The head of Greece's biggest bank has said it would be "insane" not to reach an agreement at emergency talks on Monday on the country's debt crisis. | The head of Greece's biggest bank has said it would be "insane" not to reach an agreement at emergency talks on Monday on the country's debt crisis. |
| Greek Prime Minister Alexis Tsipras will meet the leaders of the 18 other eurozone nations at a Brussels summit. | Greek Prime Minister Alexis Tsipras will meet the leaders of the 18 other eurozone nations at a Brussels summit. |
| Louka Katseli, chair of the National Bank of Greece, told the BBC that banks were not under immediate threat of running out of money. | Louka Katseli, chair of the National Bank of Greece, told the BBC that banks were not under immediate threat of running out of money. |
| But she said the situation was serious, and without a deal would become severe. | But she said the situation was serious, and without a deal would become severe. |
| Her remarks came as Mr Tsipras presented a Greek proposal for a deal during a conference call with German Chancellor Angela Merkel, French President Francois Hollande and EU Commission President Jean-Claude Juncker. | Her remarks came as Mr Tsipras presented a Greek proposal for a deal during a conference call with German Chancellor Angela Merkel, French President Francois Hollande and EU Commission President Jean-Claude Juncker. |
| "The prime minister presented the three leaders Greece's proposal for a mutually beneficial agreement that will give a definitive solution and not postpone addressing the problem," Mr Tsipras's office said in a statement. | "The prime minister presented the three leaders Greece's proposal for a mutually beneficial agreement that will give a definitive solution and not postpone addressing the problem," Mr Tsipras's office said in a statement. |
| 'Lack of leadership' | 'Lack of leadership' |
| The proposal comes amid attempts to prevent Greece defaulting on a €1.6bn (£1.1bn) IMF loan repayment. | The proposal comes amid attempts to prevent Greece defaulting on a €1.6bn (£1.1bn) IMF loan repayment. |
| Greece has until the end of June to make the payment or risk crashing out of the single currency and possibly the EU. | Greece has until the end of June to make the payment or risk crashing out of the single currency and possibly the EU. |
| The European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock bailout funds until Greece agrees to economic reforms they want to see introduced. | The European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock bailout funds until Greece agrees to economic reforms they want to see introduced. |
| They want Greece to implement a series of economic changes in areas such as pensions, VAT and on the budget surplus before releasing €7.2bn of funds, which have been delayed since February. | They want Greece to implement a series of economic changes in areas such as pensions, VAT and on the budget surplus before releasing €7.2bn of funds, which have been delayed since February. |
| However, Mrs Katseli told BBC Radio 4's World This Weekend programme that negotiations had been badly handled with "a lack of leadership" from the European Union side. | |
| She also said that there could not be an agreement that deepened inequality and poverty in Greece. | She also said that there could not be an agreement that deepened inequality and poverty in Greece. |
| In addition she predicted that Greece would not be forced to leave the euro because "the cost for the eurozone, which they are down-playing, is really serious." | In addition she predicted that Greece would not be forced to leave the euro because "the cost for the eurozone, which they are down-playing, is really serious." |
| She added: "If the markets decided the eurozone is not an irrevocable decision and a government can be declared insolvent, then the first thing that would happen is that there will be a speculative attack by the markets on the next weakest participant in the eurozone or the euro." | She added: "If the markets decided the eurozone is not an irrevocable decision and a government can be declared insolvent, then the first thing that would happen is that there will be a speculative attack by the markets on the next weakest participant in the eurozone or the euro." |
| It has been reported that withdrawals by Greek savers between last Monday and Friday reached about €4.2bn, representing about 3% of household and corporate deposits held by Greek banks at the end of April. | It has been reported that withdrawals by Greek savers between last Monday and Friday reached about €4.2bn, representing about 3% of household and corporate deposits held by Greek banks at the end of April. |
| But Greek banks are expected to open as normal on Monday following a loan from the ECB on Friday. | But Greek banks are expected to open as normal on Monday following a loan from the ECB on Friday. |
| Earlier, Greek State Minister Alekos Flambouraris had said that new proposals would be put to creditors ahead of Monday's summit but he did not give details. | Earlier, Greek State Minister Alekos Flambouraris had said that new proposals would be put to creditors ahead of Monday's summit but he did not give details. |
| He also told Greek media he believed the ECB would not allow Greece's banks to collapse. | He also told Greek media he believed the ECB would not allow Greece's banks to collapse. |
| Mr Tsipras has said he believes "there will be a solution based on respecting EU rules and democracy which would allow Greece to return to growth in the euro". | Mr Tsipras has said he believes "there will be a solution based on respecting EU rules and democracy which would allow Greece to return to growth in the euro". |
| Greece - deal or no deal? | Greece - deal or no deal? |
| Cars and shoe boxes: Greeks cope with an economic crisis | Cars and shoe boxes: Greeks cope with an economic crisis |
| Peston: Is there any way Greece can avoid default?? | Peston: Is there any way Greece can avoid default?? |
| Walker: The options for Greece | Walker: The options for Greece |
| What impact would Grexit have on UK? | What impact would Grexit have on UK? |
| Greece debt crisis: Full coverage | Greece debt crisis: Full coverage |
| But Mrs Merkel has warned there must be a deal between Greece and its creditors ahead of Monday's summit. | But Mrs Merkel has warned there must be a deal between Greece and its creditors ahead of Monday's summit. |
| Otherwise, she said, the summit would not be able to make any decision. | Otherwise, she said, the summit would not be able to make any decision. |
| Greek debt talks: main sticking points | Greek debt talks: main sticking points |