Currency Union

A Post-Greece Plan to Fortify the Euro

greece2 AP Photo dpa, AFP PHOTO Angelos Tzortzinis
Are unhappy Greeks about to come to an agreement with Angela Merkel and Jean-Claude Juncker? Sources: DPA, AFP PHOTO Angelos Tzortzinis
  • Why it matters

    Why it matters

    European leaders want to establish a fully integrated currency and economic union to ensure that another Greece never happens again.

  • Facts


    • E.U. leaders meet on Monday evening for an emergency summit to try to hammer out a deal on Greece.
    • Jean-Claude Juncker, the European Commission president, will present a new plan this week to further integrate the euro zone.
    • Reforms to the E.U.’s key Lisbon Treaty, including increased centralization of fiscal matters, will follow in 2017.
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Many deadlines have already come and gone, but today looks like it could be the decisive day in the bid to keep Greece in the euro zone – at least for now.

With the current bailouts scheduled to run out on June 30, the day Greece also faces a huge debt repayment of €1.6 billion, a deal is urgent. The pressure is on euro-zone finance ministers and E.U. leaders gathered in Brussels today to find a solution.

Ahead of the summit, Greek Prime Minister Alexis Tsipras is to meet European Commission President Jean-Claude Juncker and European Council President Donald Tusk before talks with the European Commission, the European Central Bank and the International Monetary Fund.

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