France will do all it can to keep Greece in the eurozone, Prime Minister Manuel Valls has said in advance of an emergency eurozone summit on the crisis.
Eurozone ministers have called on Greece to offer fresh and “credible” proposals in the wake of the rejection of continued austerity by Greek voters on Sunday.
Greek Prime Minister Alexis Tsipras met with opposition Greek leaders on Monday to secure cross-party support for his negotiations with eurozone leaders in Brussels later today, where he is expected to put forward new proposals.
In the negotiations, Tsipras hopes to secure liquidity for Greece’s financial system, reduce the impact of austerity, agree on a strong programme for growth, and most importantly restructuring the Greek debt by rescheduling repayments and possibly writing 30% off.
The Greek leader has found support for his actions to reduce austerity, which has wiped 25% off Greece’s GDP and caused unemployment to soar, from the IMF, which published a report recommending a 30% debt haircut and a 20 year grace period to end the crisis.