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At summit on Greece, Merkel says trust has been lost

In the struggle over the future of debt-strapped Greece 'it is Europe that is at stake,' says French President Francois Hollande.  But German Chancellor Angela Merkel is taking a harder line.

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Finland's Finance Minister Alexander Stubb says the conditions presented by the Greeks are not enough at the moment as an EU leaders summit is cancelled.

SkyNews

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Jean-Claude Juncker, the head of the European Union's executive branch, says he will "fight until the very last millisecond" for a deal that keeps Greece in the euro.

Arriving for an emergency meeting of the leaders of the 19-country eurozone in Brussels, the European Commission president gave few grounds for optimism that a breakthrough over the Greek crisis was imminent.

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Juncker's caution was echoed in comments from other eurozone leaders including  French President Francois Hollande, who said he's going to do everything that he can to keep Greece in the euro.

Arriving for the emergency summit, Hollande said "France is going to do everything to reach an agreement tonight." He said it wasn't just Greece's future that's at stake.

"It is Europe that is at stake," he said.

Hollande also sought to douse any talk that a temporary Greek exit from the eurozone is possible. Greece is either in or out, he said., and the latter would be a retreat for Europe.

But  German Chancellor Angela Merkel insists that there won't be a Greek deal later Sunday "at any price."

Arriving for an emergency summit of eurozone's leaders in Brussels, Merkel says "the most important currency has been lost: that is trust and reliability." Merkel says the talks later will be "tough," adding that in any deal reached "the advantages outweigh the disadvantages both for the future of Greece and the eurozone as a whole and the principles of our cooperation." Germany has taken a tough line on Greece over the past few weeks and has questioned whether the government of Greek Prime Minister Alexis Tsipras will deliver the reforms it has promised in exchange for a financial rescue package.

Greek Prime Minister Alexis Tsipras says he's ready for a compromise deal with European creditors and that an agreement later Sunday is possible if "all parties want it."

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Arriving for an emergency meeting of the 19 leaders of the eurozone in Brussels, Tsipras said Europeans want to see Europe "united and not divided."


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