Hollande, Merkel to meet in Paris to bridge differences on Greek debt

French President Francois Hollande will meet later on Monday German Chancellor Angela Merkel in Paris to discuss Greek debt crisis and seek a common response to the "No" vote to international lenders austerity requirements.

The two European leaders will "evaluate the consequences of the referendum in Greece" over a working dinner at the Elysee Palace, Hollande's office said in a statement issued on Sunday.

"The meeting is in line with the permanent cooperation between France and Germany to contribute to finding a sustainable solution to Greece," after Greek people voted against international lenders' terms in return for an extension of bailout funds.

Ahead of an emergency summit of the eurozone leaders scheduled late on Tuesday, Hollande and Merkel will seek a common response on how they can keep Athens in the eurozone after differences emerged between Europe's main two powerhouses, following the anti-austerity referendum.

In Paris, French Finance Minister Michel Sapin said basis of dialogue remained open, urging Greek government to come up with serious and strong proposals to reach a crucial deal as the "No" vote "does not fix anything".

"There is a risk of leaving the euro but there is no automatic exit, in the same way, the vote doesn't mean automatically that Greece stays in the euro. What will determine whether it stays or leaves is the quality of negotiations that will start," the French minister told the local broadcaster Europe1.

To Christophe Cambadelis, the secretary general of the ruling Socialist party (PS), the creditors and Greece should "negotiate in solidarity".

"The Greeks did not vote against Europe, they voted against austerity, against a situation which, today, is unbearable," Cambadelis said in an interview to France info radio.

However, in Europe's leading power, official rhetoric reflected a tough line towards Greece and calls raised against any further aid to Athens after Sunday vote.

Speaking after the victory of the "No" camp was announced, Sigmar Gabriel, German Economy Minister, noted that "Tsipras had torn down the last bridges with which Greece and Europe would be able to move towards a compromise".

Refusing the creditors request of further austerity and tough reforms to win additional billions of euros to avoid a default, the Leftist Prime Minister, Alexis Tsipras, has pledged to secure a deal by Tuesday on better terms to unlock further vital funding for the country to stay afloat and in the eurozone. Endit