Greek deal needs to be reached before Monday's EU summit, warns Merkel

  • Germany’s chancellor Angela Merkel has stressed on the need for a deal between Greece and its lenders ahead of the emergency EU summit on June 21.

    Otherwise, the summit leaders would not be able to take a decision, she warned.

    Greece is less than two weeks away from defaulting on an IMF loan in the absence of an agreement with creditors.

    Effects of the looming deadline are already being felt, with reports saying that over €4 billion was withdrawn from Greek banks this week.

    Tagged as: Germany chancellor, Angela Merkel, Greek debt, Greek deal, Greek crisis, EU summit, IMF loan, Greece debt crisis, business news