Greece debt crisis: Eurozone sets deadline for new proposal

Athens, July 8: The Eurozone has set a deadline for crisis hit Greece to submit new proposals to secure a deal with creditors, media reported.

The eurozone has set deadline until Thursday for Greece to present new proposals and has called a full EU summit for Sunday, BBC reported.

"This was now the "most critical moment in the history of the Eurozone," European Council President Donald Tusk was quoted as saying.

"The final deadline ends this week," he said after emergency talks in Brussels.

All 28 EU members has decided to meet on Sunday.

In Brussels, Greece has been given an ultimatum: either there will be a deal or Greece and its banks face the prospect of going bust on Monday.

OneIndia News