European officials are putting the onus on the Greek government to make the next move as Chancellor Angela Merkel heads to Paris on Monday for talks with President Francois Hollande to map out a way forward for Greece.
With an emergency summit of European leaders called for Tuesday, fellow euro-region governments are preparing to wait for Greece to offer proposals that enable the country to stay in the 19-nation euro zone, according to a European government official with knowledge of the crisis strategy.
The approach suggests little appetite to bend to Greece, potentially extending the brinkmanship that began with Prime Minister Alexis Tsipras’s January election on an anti-austerity platform and culminated in Sunday’s referendum. While official statements reacting to the “No” vote expressed respect for the choice exercised by Greek voters, they also stressed the need for Tsipras to say how he’ll resolve the uncertainty ahead.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.