Euro zone leaders will meet in Brussels on July 21 to discuss a second bailout package for Greece and financial stability in the euro area, European Council President Herman Van Rompuy said on Friday.
"Our agenda will be the financial stability of the euro area as a whole and the future financing of the Greek programme. I have asked the preparatory work to be brought forward inter alia by the finance ministries," he said in the statement.
Eurozone finance ministers meeting in Brussels on Monday failed to hammer out a convincing plan to tackle Greece´s debt problem, issuing a statement that appeared to leave all options on the table.
EU governments and the European Central Bank remain divided over whether and how private sector investors should be involved in a second rescue deal, with Germany and the Netherlands adamant that investors share the burden, and other governments and the ECB concerned that such a move could trigger a selective default.
The EU has come under criticism from the IMF for failing to come up with "a European solution to a European problem" and governments are under pressure to put an end to a problem that looks to be spreading to bigger EU economies such as Italy and Spain, whose bonds have also come under pressure in recent days.