The special Euro Summit was convened following Sunday's referendum in Greece which rejected the anti-crisis measures proposed by the European Commission, the European Central Bank and the International Monetary Fund.
According to the President, you cannot play poker with the fate of your country and its people. Greece is on the brink of default, and its government must tell the people the whole truth, accept full responsibility and take immediate action to stabilize the financial situation.
The President pointed out that the European Union was based on the principle of solidarity, but no assistance was possible if a country did not seek a way out of the crisis.
The earlier proposed reform plan envisaged measures to reduce the Greek budget deficit and debt to international creditors, to boost growth and to create jobs.
Greece's debt burden accounts for 180 percent of GDP. The country had to pay back the International Monetary Fund a total of 1.6 million euros to before June 30, but failed to make the payment because of it is short of cash.
