The German Chancellor, Angela Merkel, has reduced the chances of solving the Greek debt crisis on Thursday at the emergency summit, adding that she might skip the summit unless there is a possibility to agree on a second bailout package for Greece.

The Chancellor told a news conference that nothing will be spectacular but restructuring Greece debt.

The Euro zone leaders are to meet on Thursday to discuss the new bailout package for Greece to help the nation avoiding default in order to maintain the financial stability in the zone and prevent the contagion from spreading to other European countries or to the outside.

She said Thursday will help in this, but further steps will be needed which increased the negative expectations for the summit and its ability to calm markets since Merkel hinted that the deal will not be made again only an agreement to agree on something!