Arab leaders arrived in Egypt’s New Administrative Capital on Tuesday (March 4) for an emergency Arab summit on Gaza. Egypt was expected to present a reconstruction plan for Gaza to Arab leaders that would cost $53 billion over five years and avoid resettling Palestinians. This proposal is in contrast to U.S. President Donald Trump's idea of developing a "Middle East Riviera", according to a copy of the plan seen by Reuters. United Nations Secretary-General Antonio Guterres, Syria’s interim President Ahmed al-Sharaa, and Lebanese President Joseph Aoun were among those received by Sisi. Arab leaders were also expected to call for elections in the West Bank and Gaza in one year, according to the draft final communique
Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament from Monday to convince his 18 partners in the monetary union to release immediate funds to avert a Greek state bankruptcy and start negotiations on a third bailout programme.
Euro zone leaders have postponed an emergency summit planned for this weekend on a second bail-out of debt-laden Greece in the hopes that a much bigger crisis unfolding in the US will preoccupy financial markets and give them more time to sort out their differences on the proposal.
European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and stop contagion to Italy and Spain.