A barrage of statements mostly dampening hopes for a deal during an extraordinary Euro Summit were generated by Eurozone FinMins on Monday.

Even though the mission of this Eurogroup is to prepare the upcoming Summit, this seems to be a far-fetched scenario since both Wolfgang Schaeuble and his colleagues from Ireland, Finland and Spain, lowered expectations, saying they do not expect a deal.

The German FinMin clearly stated that this meeting has nothing to differentiate it to the one last Thursday, since nothing substantial has been submitted by the Greek side. According to him, the IMF has not received any Greek proposals either.

On his part, Jeroen Dijsselbloem said he will “leave it up to the Institutions to give us a first look on the new Greek proposals”.

The Irish FinMin and the Finnish FinMin also reiterated their lack of optimism of any progress on Monday.