BRUSSELS (AP) – German Chancellor Angela Merkel said Thursday that Greece has no choice but to carry out economic reforms if its wants to receive more financial aid, dashing any hopes Athens might have had for a softening in Berlin’s stance.
Tensions over Greece’s massive financial bailout overshadowed a European Union summit amid fears that the country could accidently drop out of the euro, triggering a crisis across the currency zone shared by 19 nations.
“There can only be a solution on the basis of the agreements reached in the eurogroup,” Merkel said, referring to the meeting last month of finance ministers from the countries that use the euro.
Before Greece receives further rescue loans it must submit a detailed list of reforms, but the radical left-led leadership in Athens has been slow to come forward with new ideas.
A last-minute meeting of select leaders has been added to the European summit agenda for late Thursday to discuss the situation in Greece. Apart from Merkel and Greek Prime Minister Alexis Tsipras, the meeting will include French President Francois Hollande, European Central Bank President Mario Draghi and EU President Donald Tusk.