EU Welcomes Last Minute Greek Proposals

The European Union welcomed new proposals from Greek Prime Minister Alexis Tsipras as a “good basis for progress” at talks on Monday where creditors want 11th-hour concessions to haul Athens back from the brink of bankruptcy.

EU chief executive Jean-Claude Juncker’s chief-of-staff spoke of a “forceps delivery” as officials worked late into the night to produce a deal ahead of a summit of euro zone leaders in Brussels that they hope can keep Greece in the currency bloc.

Giving no detail of a proposal he said was also received by the European Central Bank and International Monetary Fund, German EU official Martin Selmayr tweeted: “Good basis for progress at … Euro Summit. In German: ‘eine Zangengeburt’.”