EU President Van Rompuy: EU to hold summit on Greece around May 10

EU President Herman Van Rompuy said Wednesday he plans to hold a summit of euro-zone leaders by around May 10, where they will move to implement a joint bailout package for Greece.

“On the basis of reports to be finalized in the coming days, the heads of state and of government will decide to activate the financing of the joint program under negotiation now between the European Commission, the European Central Bank and the International Monetary Fund, and of course the Greek government,” EU President Herman Van Rompuy said at a press conference in Tokyo.

“The negotiations are going on and they are well on track,” Mr. Van Rompuy said before meeting with Japanese leaders later in the day. “There is no question about restructuring of the debt.”