Schaeuble said to reject idea of special EU leaders’ summit on Greece


German Finance Minister Wolfgang Schaeuble has reportedly rejected the idea of an extraordinary EU leaders' summit put forward by the government in Athens to discuss the Greek program after negotiations came to an impasse late Tuesday.

Greece and its lenders were unable on Tuesday to reach an agreement on how to line up 3.6 billion euros in contingent austerity measures, leading to plans for an extra meeting of eurozone finance ministers on Thursday being dropped.

A spokesman for Eurogroup President Jeroen Dijsselbloem confirmed on Tuesday night that there would be no meeting this week to rubber-stamp an agreement between Athens and the institutions and conclude the first review of the third Greek bailout program.

Prime Minister Alexis Tsipras was expected to call European Council President Donald Tusk Wednesday to ask for an extraordinary EU leaders’ summit to discuss the Greek program as the SYRIZA leader feels that Athens has met its bailout commitments and that the lenders’ side is standing in the way of a deal.