Greece has agreed to present a new list of reforms plan quickly, after top-level overnight talks in Brussels
Latest: Statement releasedMerkel: Disappointment with progressGreeks warn of humanitarian crisis
Liquidity fearsBond yields spiked today
So, in summary, Greece has promised to speed up the implementation of its extended bailout agreement and will send a full list of detailed reform proposals to its euro zone partners very soon.
Not a big breakthough, but perhaps all Alexis Tsipras could hope for. It means Greece could yet unlock some of its bailout money, if it can satisfy its creditors with a credibly reform plan.
Related: EU leaders in Brussels demand Greece produce economic blueprint quickly
2 summits in row @tsipras_eu sounds banal. hot air. maybe works back home. merkel much more specific. he wanted meeting. she wasn’t bothered
Greek PM Alexis Tsipras has told reporters that he’s more optimistic after tonight’s meeting, even though European leaders don’t appear to have budged.
TSIPRAS: “Process back on track” #Greece not obliged to take recessionary measures pic.twitter.com/TdRUsPLTsK
#Tsipras : negotiation process back on track” pic.twitter.com/MxxVdWrjTX
French president Francois Hollande is briefing the press now (lifefeed here).
He confirms that Greece must present new reform plans ASAP; there’s no time to lose. And he also suggests that some aid could be forthcoming once Greece’s progress has been evaluated.
Merkel and Hollande have different interpretations of Greek agreement. Merkel: No money without review. Hollande: Money after evaluation.
At a brief press conference, Angela Merkel has told reporters that there was “disappointment” that more progress hasn’t been made since Greece secured its bailout extension a month ago.
#Merkel: The #Greek gov will show full responsibility of the reforms and next days will send us a list of specific reforms
More Merkel: “There was disappointment that that what we expected didn’t happen after Feb 20” #Greece
And finally, the meeting is over. In a short statement, the European Council say that attendees at tonight’s (last night’s) meeting are sticking to the agreement made last month.
Greece must present a “full and adequate” list of reforms, fast, and all sides have agreed to work faster to make progress.
Following three hours of talks that ended after 2 in the morning, German chancellor Angela Merkel made it plain that there would be no quick disbursement of emergency aid to Greece unless Tsipras delivered on unfulfilled pledges to supply a full menu of proposed structural reforms to the Greek economy.
The credibility of Tsipras’ proposals would need to be supported by eurozone governments before Greece, on the brink of insolvency, could obtain the financial support.
“@Mina_Andreeva: .@JunckerEU @J_Dijsselbloem @eucopresident statement after meeting on #Greece pic.twitter.com/mz7vz7VbWl”
1:39am and still in #EU summit building. Seems like old times #Greece pic.twitter.com/RPQgN7U4f1
You have to admire these leaders’ stamina…
#EUCO heading towards 2a.m bxl, 3 hrs of @tsipras_eu mini-summit. he must be doing ok.but merkel can outsit any male. did 17 hours in minsk
If there are any press briefings in Brussels, they should be streamed online here….
Reporters in Brussels are hearing that Greece is being urged to implement some reforms immediately, to unlock the first slice of its outstanding bailout payment of over 7 billion euros.
#Greece asked to change attitude towards technical teams, also suggest a plan of immediate reforms, via @doleross #EUCO
Greece has apparently been told to be more welcoming to officials representing its creditors in Athens:
#Greece, Eu sources: until now Eu technicians in Athens could not work safely, we said to @tsipras_eu that that needs to change
The Greek meeting hasn’t finished yet – Suzanne Lynch of the Irish Times has heard that some common ground is emerging between the leaders:
#tsipras + EU leaders ‘Identifying areas that can be tackled quickly’ for reform says EU source on ongoing #Greece mini-summit
Another date for the diary, possibly….
Extra #Eurogroup meeting possibly next week ~Greek official
An EU official has also suggested that another (!) meeting of eurogroup finance ministers may take place soon….
More details on the wires…
Juncker ‘annoyed’ over Greek govt’s attitude toward ‘technical staff’ /via @tsigouriX #GreeceMiniEuCo
Details of tonight’s meeting are starting to emerge.
An EU official has told Bloomberg that talks between Greece and its creditors were “frank” at times (euphemism alert!) and that the Greek government has enough funds to last until next month.
Exchanges at Greece meeting were “often frank”, EU official says…
#EU official says #Greek cash should last until April
Tonight’s meeting will set the scene for Monday, when Greece’s prime minister visits Berlin.
The Wall Street Journal reports tonight that Angela Merkel is poised to “intervene directly in a deepening rift between Greece and its international creditors”.
The chancellor’s message for Mr. Tsipras—that Greece has no alternative to cooperating with finance officials’ demands—is likely to disappoint the Greek leader’s hope for a lenient funding deal.
Reminder; we’re not expecting much from this meeting.
Hours ago, Angela Merkel said it would not deliver a breakthrough, and several other leaders have emphasised that they want to see Greece delivering on its commitments before bailout cash is handed over.
Alexis Tsipras looked rather more cheerful than Mario Draghi at the start of tonight’s mini-summit meeting on Greece:
Heads-up: we might hear from Angela Merkel tonight:
The meeting on #Greece in a small group format just started. Afterwards press conf. by Chllr #Merkel. pic.twitter.com/13XIlWd51K MT @RegSprecher
Update from Ian – that