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Greek debt: Talks to resume as deadline beckons

Greek debt talks are resuming after creditors accused the country's Prime Minister Alexis Tsipras of failing to compromise.

Greece faces a 1.6 billion euro debt repayment to the International Monetary Fund on Tuesday, and is thought to require a new deal to avoid default and a possible withdrawal from the eurozone.

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Merkel cautious on Greek bailout, but Hollande upbeat

Credit: Wolfgang Kumm/DPA/PA Images

German Chancellor Angela Merkel has sounded a note of caution on the latest set of financial reform proposals from the Greek government.

While EU president Donald Tusk had sounded a positive note earlier today, Merkel, under pressure from the German people, was more equivocal.

"After the Eurogroup meeting there is no basis for a decision, so this can only be an advisory summit," she said. Her finance minister, Wolfgang Schaeuble, a hardliner on Greece, earlier told reporters he had seen nothing new from Athens.

But other leaders sounded more upbeat. French President Francois Hollande told reporters: "I hope the work conducted in the past few days by Greece and the institutions lays the foundation for an agreement that should be reached as soon as possible. There are improvements, even if not everything has been resolved."

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