EU Summit underway in Brussels (Live video)

The EU Summit started at approximately 16.00 (Athens time) in Brussels.

Greek Prime Minister Alexis Tsipras, accompanied by the two new Alternate Foreign Ministers, Nikos Chountis and Euclid Tsakalotos, has his work cut out for him as he will try to persuade the European leaders to agree to a political solution for Greece.

However, this is not going to be easy, as the current climate in Brussels shows. In their statements ahead of the meeting, several EU leaders downplayed hopes for a Greek deal today and reiterated their belief that Greece must stick to its commitments.

Upon her arrival at the summit, the German Chancellor told reporters that they shouldn’t expect any solution or a breakthrough in today’s meeting, underlying that decisions will be taken by the Eurogroup.

Finland’s prime minister, Alex Stubb, said ahead of the meeting that Greece must proceed with the necessary reforms, and warned that the Greek side cannot expect another bailout extension.

On his part, French President Francois Hollande told the reports that Greece must get its wealthiest citizens to pay their taxes. “The Greeks must show that they are making an effort,” Hollande noted, adding that France wants to keep Greece in the Eurozone.

The President of the European Parliament, Martin Schulz, stressed upon his arrival at the Summit that Greece must fulfill its obligations.

“The election of a new government does not mean that financial agreements signed by the previous government are no longer valid,” Schulz said expressing the hope that Alexis Tsipras will make the necessary compromises so that Greece can help itself. ”

Greek Prime Minister Alexis Tsipras told reporters that the European Union needs brave political initiatives, which respect both democracy and the treaties, so that it can leave the crisis behind it and be led toward growth.