Belgium: New eurozone meeting on Greek debt set for Wednesday

European Commission President Jean-Claude Juncker said he is confident that the Eurogroup will be able to achieve results regarding Greece's debt crisis in a new meeting on Wednesday, after the country’s Prime Minister Alexis Tsipras submitted his proposal in an emergency summit in Brussels, Monday. The leaders of the 18 European member states and representatives of Greece’s three lenders, the IMF, European Central Bank (ECB) and European Commission, agreed for the first time to Greece’s proposed reform measures as a negotiation basis after a five month standoff over its debt repayments. The goal of Wednesday’s meeting is to come up with first tangible results, which then can be presented at the council meeting on Thursday. Greece’s next instalment to IMF is due on June 30; the country risks defaulting should it not be able to reach an agreement with its lenders before then.