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Greece "wasted" the Eurogroup members' time as it has failed to come up "with credible proposals" to solve its debt crisis and "meet the requirements of the memorandum," German Finance Minister Wolfgang Schauble lamented in Luxembourg on Friday. The meeting of the Eurogroup's finance ministers and Greece's three lenders - the International Monetary Fund (IMF), European Union and European Central Bank (ECB) - was considered to be the last chance for Greece to resolve its debt crisis and avoid bankruptcy. However, Greece failed to convince the other parties of their proposal, so an emergency summit of the heads of state and government of the Eurogroup has been scheduled for Monday. Schauble remains sceptical, voicing doubts that the summit will be more productive than previous meetings, but conceded that the Greek government may have a change of heart over the weekend. In the meantime, the ECB has agreed to make more emergency funds available to Greece, but the amount of the funds available has not been confirmed. The Greek government was hoping to get an additional €3.5bn ($3.9bn), but it may have just received enough money to tie it over until the summit on Monday.

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