Greece's Prime Minister is set to resume negotiations with international creditors after negotiations to avoid a Greek debt default faltered last night with euro zone finance ministers accusing Athens of refusing to compromise.
With a deadline next week that could put Greece on a path out of the euro zone, European Union leaders are due in Brussels for a summit later.
Greek PM Alexis Tsipras negotiated into the early hours with heads of creditor institutions to try to thrash out a cash-for-reform deal before the euro zone ministers reconvene at 11pm.
Main developments include:
- Finance ministers break off meeting saying gap still wide
- With the EU summit creditors to keep talking
- Big gaps remain on taxes, pensions, labour reform
- Greek demand for debt restructuring not discussed
- Street protests in Athens against more austerity
Greece has blinked first - but is it enough to save the country from bankruptcy?
Thousands of pro-euro demonstrators have gathered in Athens as negotiations appear to be moving Greece close to a bailout deal.
There has been optimism before, but new external pressures may now force a deal over the Greek debt crisis, writes Richard Edgar.