ATHENS, Greece (AP) – Greek Prime Minister Alexis Tsipras heads Tuesday to Brussels, where he will try to use a bailout referendum victory to obtain a rescue deal with European leaders. Tsipras faces intense pressure from creditors abroad and banks at home who all demand what Greece lacks: money.
As the Greek leader readied proposals to restart bailout talks, the situation was complicated by the European Central Bank’s refusal late Monday to increase assistance for Greek banks desperately needing cash and facing imminent collapse unless a rescue deal is reached.
A hastily called meeting of eurozone finance ministers is slated for Tuesday afternoon, and a full summit of the leaders of the 19 euro countries was to be held that evening.
With Greece’s future in the European Union and its euro currency at stake, a Monday meeting between German Chancellor Angela Merkel and French President Francois Hollande in Paris set the tone for the Brussels talks.
“Time is of the essence,” Merkel said afterward. “(Greek) proposals have to be on the table this week.”