No clear-cut decisions are being expected today during the emergency EU summit on the Greek financial crisis, Finance Minister Edward Scicluna said this afternoon.

“Even if Greece is given all the money it is asking for, it will still need some €5 billion or €6 billion by the end of the year. The story does not end here”, the finance minister told reporters.

He said today’s outcome would probably in the form of some sort of agreements on possible extensions, or some sort of arrangement attached with loads of conditions.

Reacting to the cautious optimism expressed earlier by EU Commission President Jean-Claude Juncker following a new Greek proposal,  the finance minister said there was always room for improvement.

“These are just wishes. Their implementation will be crucial and things will remain like this in future,” Prof Scicluna said.

Asked if today was “a make or break meeting”, the finance minister said he did not think so.

Asked what would happened to some €177 million which Malta has given in aid to Greece, if Greece defaulted on payments due by the end of the month to the IMF, he said that at one point the money would still have to be paid “or promised to paid” under a rescheduled plan. Otherwise Greece would not be allowed to go to the international financial markets, he said.

See his comments above.