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| Greece debt crisis: Crunch talks to avert default | Greece debt crisis: Crunch talks to avert default |
| (35 minutes later) | |
| Greek PM Alexis Tsipras has resumed talks with international creditors, with time running out to find a solution to Greece's debt crisis. | Greek PM Alexis Tsipras has resumed talks with international creditors, with time running out to find a solution to Greece's debt crisis. |
| A late-night session with the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) failed to close the gaps. | A late-night session with the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) failed to close the gaps. |
| Eurozone finance ministers hope to endorse a deal when they meet again, ahead of a summit of EU leaders. | Eurozone finance ministers hope to endorse a deal when they meet again, ahead of a summit of EU leaders. |
| Greece must repay a €1.6bn (£1.1bn) IMF loan by next Tuesday or face default. | Greece must repay a €1.6bn (£1.1bn) IMF loan by next Tuesday or face default. |
| That could lead to Greece exiting the eurozone, with possible repercussions for the rest of Europe and the world economy. | That could lead to Greece exiting the eurozone, with possible repercussions for the rest of Europe and the world economy. |
| Only once agreement is reached will creditors unlock the final €7.2bn tranche of bailout funds for cash-strapped Greece. | Only once agreement is reached will creditors unlock the final €7.2bn tranche of bailout funds for cash-strapped Greece. |
| Euro down | |
| After some early gains the euro has gone into reverse today. It currently buys $1.1178 down 0.24%. Shares in Frankfurt and Paris have given up early gains and are now trading lower. Greek shares are down around 2%. | |
| Latest updates: Business live | Latest updates: Business live |
| "The Greek government remains firm on its positions," a Greek official told reporters after two hours of overnight talks - following a seven-hour session earlier - in Brussels on Wednesday. | "The Greek government remains firm on its positions," a Greek official told reporters after two hours of overnight talks - following a seven-hour session earlier - in Brussels on Wednesday. |
| European Commissioner Pierre Moscovici struck a hopeful tone ahead of Thursday's talks, tweeting: "Where there's a will there's a way." | European Commissioner Pierre Moscovici struck a hopeful tone ahead of Thursday's talks, tweeting: "Where there's a will there's a way." |
| The latest Greek proposals are believed to include: | The latest Greek proposals are believed to include: |
| See the proposals in full | See the proposals in full |
| Mr Tsipras has criticised Greece's creditors for rejecting his ideas, which they say are not viable. | Mr Tsipras has criticised Greece's creditors for rejecting his ideas, which they say are not viable. |
| Correspondents say they include far more tax rises and far fewer spending cuts than creditors had suggested, and the IMF in particular is refusing to accept them. | Correspondents say they include far more tax rises and far fewer spending cuts than creditors had suggested, and the IMF in particular is refusing to accept them. |
| 'Determined' effort | 'Determined' effort |
| The Greek prime minister resumed talks on Thursday morning with IMF leader Christine Lagarde and European Central Bank head Mario Draghi as well as Jean-Claude Juncker, the president of the European Commission, and Eurogroup leader Jeroen Dijsselbloem. | The Greek prime minister resumed talks on Thursday morning with IMF leader Christine Lagarde and European Central Bank head Mario Draghi as well as Jean-Claude Juncker, the president of the European Commission, and Eurogroup leader Jeroen Dijsselbloem. |
| Technical experts met several hours earlier to continue deliberations. | Technical experts met several hours earlier to continue deliberations. |
| On Wednesday, eurozone finance ministers cut short an emergency meeting meant to finalise a deal, when it became clear there was no deal to discuss. | On Wednesday, eurozone finance ministers cut short an emergency meeting meant to finalise a deal, when it became clear there was no deal to discuss. |
| "Unfortunately we have not reached an agreement yet, but we are determined to continue work," Mr Dijsselbloem said. | "Unfortunately we have not reached an agreement yet, but we are determined to continue work," Mr Dijsselbloem said. |
| Greek debt talks - main sticking points | Greek debt talks - main sticking points |
| Can Greece stay in the euro? | Can Greece stay in the euro? |
| Chris Morris: Tsipras may face impossible choice | Chris Morris: Tsipras may face impossible choice |
| How did Greece get in this mess? | How did Greece get in this mess? |
| If an agreement is reached, it will have to be endorsed by Greece's parliament, with some critics at home accusing the prime minister of reneging on his party's campaign pledge to end austerity. | If an agreement is reached, it will have to be endorsed by Greece's parliament, with some critics at home accusing the prime minister of reneging on his party's campaign pledge to end austerity. |
| The Greek crisis threatens to overshadow the EU summit opening on Thursday afternoon. | The Greek crisis threatens to overshadow the EU summit opening on Thursday afternoon. |
| Also on the agenda will be the migration crisis, which has seen thousands of illegal migrants arriving in southern Europe, and security concerns in the wake of the conflict in Ukraine. | Also on the agenda will be the migration crisis, which has seen thousands of illegal migrants arriving in southern Europe, and security concerns in the wake of the conflict in Ukraine. |
| UK Prime Minister David Cameron will also outline his plans for reform of the EU ahead of an in/out referendum to be held in Britain before the end of 2017. | UK Prime Minister David Cameron will also outline his plans for reform of the EU ahead of an in/out referendum to be held in Britain before the end of 2017. |
| Tight schedule - the week ahead | Tight schedule - the week ahead |
| EU summit agenda | EU summit agenda |
| Are you in Greece? What is your reaction to the latest developments? Email haveyoursay@bbc.co.uk with your story. | Are you in Greece? What is your reaction to the latest developments? Email haveyoursay@bbc.co.uk with your story. |
| If you would be happy to speak further to a BBC journalist, please include a contact telephone number. | If you would be happy to speak further to a BBC journalist, please include a contact telephone number. |
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