Markets surge ahead of last-ditch summit on Greece

Stock markets surge as euro leaders gather for emergency summit on Greece ahead of deadline

Markets surge ahead of last-ditch summit on Greece

BRUSSELS (AP) -- Leaders of the 19-nation eurozone are gathering in Brussels for a last-ditch summit aimed at clinching a deal between Greece and international lenders as a major debt payment deadline looms.

Stock markets surged ahead of the meeting on hopes for a breakthrough.

Greek Prime Minister Alexis Tsipras presented the leaders of Germany, France and the European Union over the weekend with a proposal "for a mutually beneficial agreement, which will provide a permanent solution."

No details of the proposal to avoid bankruptcy and a possible exit from the euro currency were made public.

Greece has made similar offers in the past but they must first be vetted by technical experts to ascertain whether they are viable.

Greece needs loans to make a debt repayment on June 30.

Updated : 2021-02-27 15:10 GMT+08:00