Luxembourg

Eurozone leaders are to convene on Monday for an emergency summit to discuss the Greek crisis after eurozone finance ministers meeting in Luxembourg on Thursday failed to make any progress toward breaking an impasse between Greece and its creditors as withdrawals from Greek banks intensified.

There have been no results at the last-minute negotiations at a Luxembourg meeting of Eurozone finance ministers also attended by Christine Lagarde of the International Monetary Fund (IMF).

About 18:00 local time on Thursday, the meeting ended without yielding any results.

Eurozone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.

Top Bulgarian male tennis player Grigor Dimitrov on Thursday was defeated by Gilles Müller (Luxembourg) in a Queen's match as the two were eyeing a place in the quarter-finals.

By losing 4:7, 6:7, Dimitrov failed to defend the Aegon championship title he reaped last year.

Greece will be in default with the International Monetary Fund at the start of July if it fails to make a repayment on June 30 because there is no grace period or possibility to delay, IMF Managing Director Christine Lagarde said on June 18.

Greece will be in default with the International Monetary Fund at the start of July if it fails to make a repayment on June 30 because there is no grace period or possibility to delay, IMF Managing Director Christine Lagarde said on Thursday.

"It will be in default, it will be in arrears vis-a-vis the

International Monetary Fund chief Christine Lagarde warned Greece on Thursday that it would get no extra time to make a huge 1.6-billion-euro debt payment due at the end of the month.

"There will be no period of grace," Lagarde told reporters in Luxembourg where eurozone finance ministers are meeting, adding: "No delay of one month or two as I heard; it's due June 30."

By Eleni Varvitsiotis

As European finance ministers arrived in Luxembourg on Thursday for a Eurogroup meeting which was not expected to break the impasse in Greece's bailout talks, officials were now examining the possibility of an emergency eurozone summit in Brussels on June 25, on the sidelines of a European Council taking place on the same day.

Among officials arriving in Luxembourg for the keenly awaited eurozone meeting there is a distinct lack of optimism over the prospects of a Greek deal.

Pierre Moscovici, the European Union's top economy official, says the meeting will be "very difficult" but that he hopes everyone turns up "with cool heads and the political will to succeed."

European leaders were contemplating a mini-summit on Greece on the sidelines of the European Council scheduled to take place in Brussels on June 25 and 26, Kathimerini understands.