Eurozone officials are preparing an emergency plan for Greece as it is unlikely that there will be any development on Thursday’s Eurogroup in Luxembourg and Greece is heading to a default. According to a report on Greece’s ANT1 television on Tuesday morning, there is an emergency meeting between European Commission President Jean-Claude Juncker, Eurogroup President Jeroen Dijsellbloem, European Parliament President Martin Schulz, European Council President Donald Tusk and European Central Bank President Mario Draghi at 5 pm on Tuesday in Brussels, two hours ahead of the Euro Working Group session. Also, there are reports in German media that an emergency European Union summit might take place on Sunday, if Thursday’s Eurogroup session fails once again to generate a deal. Meanwhile, “Süddeutsche Zeitung” newspaper reported on Tuesday that Eurozone officials are preparing an emergency plan to prevent economic chaos in Greece if the country fails to secure a deal by then. The plan includes the imposition of capital controls on the weekend with a view to preventing a likely run on Greek banks.
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