Tusk: Final deadline for Greece ends this week

President of the European Council Donald Tusk said after Tuesday's euro summit on Greece that time is running out and the deadline for Greece will pass this week. "The stark reality is that we have only five days left to find the ultimate agreement. Until now, I have avoided talking about deadlines. But tonight, I have to say loud and clear that the final deadline ends this week. All of us are responsible for the crisis and all of us have a responsibility to resolve it." Tusk added that "if this does not happen, it will mean the end of the negotiations with all the possible consequences, including the worst-case scenario, where all of us will lose." Greece is expected to present in detail its proposals for a comprehensive and specific reform agenda on Thursday at the latest. Head of the European Commission Jean-Claude Juncker said that the EU is prepared for the worst. "We have a detailed plan for a Grexit." He added, however, that he is a stark supporter of Greece staying in the euro zone.