Hopes Low Over Greece Bailout as Officials Prepare to Meet

Optimism was in short supply over the prospects of a deal Thursday that might prevent Greece’s bankruptcy

The EU and Greek flags fly in front of the Parthenon on the Acropolis on February 17, 2012 in Athens, Greece. Oli Scarff/Getty Images

LUXEMBOURG—Optimism was in short supply over the prospects of a deal Thursday that might prevent Greece’s bankruptcy, as officials gathered for a keenly awaited eurozone finance meeting.

With Greece fast approaching a potential default on June 30 and amid signs that Greeks are withdrawing money from their banks, officials acknowledged that a Greek exit — or Grexit — from the euro was now being discussed.

Pierre Moscovici, the European Union’s top economy official, said the eurozone meeting will be “very difficult” but that he hoped everyone turns up “with cool heads and the political will to succeed.”

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