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The informal eurozone summit will not be the terminus for Greece. This is what Donald Tusk made clear regarding the letter he sent to the eurozone country leaders. At the same time, the White House is exerting strong pressure to reach an agreement as soon as possible.

"This meeting won’t be the final stop and there will be no detailed technical negotiations," emphasised the European Council president, who had initiated the meeting.

Tusk also voiced an ultimatum to Athens by saying that the shenanigans must cease. Tusk said we’ve come pretty close to a point where the Greek government must choose between a reasonable agreement and bankruptcy.

Tusk's letter to the Nineteen:

"Bearing in mind the outcome of the 18 June Eurogroup meeting, I think we cannot wait until our next regular meeting to discuss the situation in Greece at the highest political level. The existing Greek financial assistance programme will be up in 11 days. The aim of the summit is to make sure that we all understand our positions and the possible consequences of our decisions. This summit won’t be the terminus and there will be no detailed technical negotiations. This is something within the competence of finance ministers. I have also invited the presidents of the European Central Bank and of the Eurogroup, as well as the IMF director."

The informal eurozone summit will be held on Monday, at 20:00 Greek time, in Brussels.

"Expected, useless and predictable." This is how Greek government circles qualified the creditors’ warnings shortly after the ultimatum of the European Council president.

"Ultimatums have no place in talks and do not affect the substance of the discussion, which enters into final phase of the prime minister’s consultations with the European Commission president, after the former’s return from Russia," government representatives argued.

"The government is optimistic about the agreement and is working towards achieving it," they added. A meeting of the government’s negotiating team (Yannis Dragasakis, Nikos Papas, Efklidis Tsakalotos, Spyros Sayas) was held to mull over the new developments.