by Jonathan StearnsMarcus Bensasson
Bloomberg
The euro
dropped as the European Commission said the talks in Brussels
had broken up after just 45 minutes with the divide between what creditors
asked of Greece
and what its government was prepared to do unbridged. The focus now shifts to a
June 18 meeting in Luxembourg
of euro-area finance ministers, known collectively as the Eurogroup, that may
become a make-or-break session deciding Greece ’s ability to avert default
and its continued membership in the 19-nation euro area.
“While some
progress was made, the talks did not succeed as there remains a significant
gap,” the commission said in a text message. “On this basis, further discussion
will now have to take place in the Eurogroup.”