Schaeuble says no new substantive proposals from Greece

German Finance Minister Wolfgang Schaeuble gave a pessimistic assessment of new reform plans submitted by Greece ahead of an emergency summit in Brussels Monday, saying they contain little new.

“I do not know any new proposals… We do not have any substantial proposals until now,” he told reporters as he arrived for the talks. “I do not see how we will be able to prepare a euro-summit if we do not have substantial proposals.”