‘Major’ decision on Greece on July 11

THE HAGUE, Netherlands – Eurozone finance ministers will make a ‘major’ decision Saturday, July 11, on the latest proposals from Athens on a fresh bailout plan, Eurogroup chief Jeroen Dijsselbloem said Friday.

“We have to make a major decision. Whichever way,” Dijsselbloem, who is also the Dutch finance minister, told reporters ahead of a cabinet meeting in The Hague.

Broad support within the Greek parliament would also “give the proposals more credibility,” Dijsselbloem said after Athens laid out a last-ditch reform plan in a bid to stave off financial collapse and exit from the eurozone.

“But we have to see whether the proposals will genuinely help pull Greece from the doldrums,” Dijsselbloem added, two days ahead of a summit of EU leaders.

Dijsselbloem confirmed the proposals were being studied by Greece’s creditors, saying they were expected to issue a statement later on Friday.

But he said he would wait for the European Commission, IMF, the European Central Bank’s verdict first before making any comments.

“I’ll keep my final judgement for later. I’ll first await the verdict from these institutions,” Dijsselbloem said.

European Commission spokesman Margaritis Schinas earlier told a press conference that Jean-Claude Juncker, Christine Lagarde, Mario Draghi, and Dijsselbloem would discuss the plan in a conference call on Friday afternoon.

Greek Prime Minister Alexis Tsipras handed in the package to the creditors just two hours before a midnight deadline on Thursday, July 9.

The proposals set out in a 13-page document concede to Greece’s paymasters several key points that Tsipras’s ruling coalition – and Greek voters – had previously fiercely opposed.

A make-or-break summit bringing together leaders of all 28 EU nations, not just the 19 that use the euro, is due to be held on Sunday.

It will decide whether to accept Greece’s reform plan in exchange for another huge bailout – its third in 5 years – amounting to tens of billions of euros, or force a “Grexit” from the eurozone. – Rappler.com