Merkel lowers summit expectations

With officials working around the clock on the terms of a second bailout for Greece, German chancellor Angela Merkel has played down expectations that a wide-ranging deal will be reached at an emergency summit on Thursday (21 July).

"Further steps will be necessary and not just one spectacular event which solves everything," she said at a press conference in Hannover on Tuesday.

Her bid to play down expectations came as others sought to emphasize the importance of the eurozone lea...