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Markets surge ahead of last-ditch summit on Greece

Greece's Prime Minister Alexis Tsipras leaves his office after a cabinet meeting in Athens, Greece, on Sunday, June 21, 2015. A day ahead of a crucial emergency eurozone summit, European leaders renewed efforts to reach a deal between Greece and its creditors that would allow the debt-ridden country to avoid a default and a potentially disastrous exit from the euro. (AP Photo/Yorgos Karahalis) Greece's Prime Minister Alexis Tsipras leaves his office after a cabinet meeting in Athens, Greece, on Sunday, June 21, 2015. A day ahead of a crucial emergency eurozone summit, European leaders renewed efforts to reach a deal between Greece and its creditors that would allow the debt-ridden country to avoid a default and a potentially disastrous exit from the euro. (AP Photo/Yorgos Karahalis)

By Associated Press June 22, 2015 1 min read

BRUSSELS (AP) – Leaders of the 19-nation eurozone are gathering in Brussels for a last-ditch summit aimed at clinching a deal between Greece and international lenders as a major debt payment deadline looms.

Stock markets surged ahead of the meeting on hopes for a breakthrough.

Greek Prime Minister Alexis Tsipras presented the leaders of Germany, France and the European Union over the weekend with a proposal “for a mutually beneficial agreement, which will provide a permanent solution.”

No details of the proposal to avoid bankruptcy and a possible exit from the euro currency were made public.

Greece has made similar offers in the past but they must first be vetted by technical experts to ascertain whether they are viable.

Greece needs loans to make a debt repayment on June 30.