The Greek Debt Crisis -- News Updates June 22, 2015

Reuters: Greece offers new plan to avert default, creditors see some hope

Greece took a step back from the abyss on Monday when it presented new reform proposals that euro zone finance ministers cautiously welcomed as a possible basis for an agreement in the coming days to avert a looming default.

European stock markets and Greek assets leapt on hopes of a last-minute deal to ease a crisis that is threatening to drive Greece out of the euro and undermine the foundations of the European Union's single currency.

Leaders of the 19 nations that share the euro arrived for an emergency evening summit in Brussels voicing guarded optimism that the Greek proposals, including higher taxes and moves to curtail early retirement, could lead to a deal this week.

WNU Editor: I have seen this "dog and pony" show more than once in the past few years .... that is why I am not optimistic on any long tern agreement from these talks. What I do expect is a delay .... some money will be given to Greece as a "lifeline" for a few months, and then we will be back at the brink again. Unless .... Greece screws up the talks this week (which is a possibility), and the creditors will just throw up their hands and walk away thereby guaranteeing a default.

The Greek Debt Crisis -- News Updates June 22, 2015

Greek crisis summit: eurozone leaders urged to avoid 'Graccident' - live updates -- The Guardian
THE LATEST: Eurozone looking to get Greece deal this week -- AP
Greece and Its Creditors Show Signs of Headway in Debt Talks -- NYT
Greece: Still No Deal -- Newsweek
With Greece on brink of default, hopes for a breakthrough put on hold -- Washington Post
Eurogroup Chief Sees Chance to Get Deal on Greece This Week -- Bloomberg
EU leaders gather for emergency summit on Greek debt -- Al Jazeera
Greece's red lines start to blur and bend -- The Guardian
Suddenly there's a glimmer of hope for Greece's bailout as Athens gets its last chance to avoid default -- Mike Bird, Business Insider
If Greece Defaults, Europe's Taxpayers Lose -- Mark Whitehouse, Bloomberg
A guide to Greece's financial troubles and bailout talks -- AP