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| Greece debt talks: Crisis deepens amid deadlock | Greece debt talks: Crisis deepens amid deadlock |
| (35 minutes later) | |
| Urgent talks between Greece's Prime Minister, Alexis Tsipras, and the country's international lenders have ended without agreement on how to solve its debt crisis, officials say. | Urgent talks between Greece's Prime Minister, Alexis Tsipras, and the country's international lenders have ended without agreement on how to solve its debt crisis, officials say. |
| Eurozone finance ministers, who had been due to finalise a deal, will now discuss a plan proposed by creditors. | Eurozone finance ministers, who had been due to finalise a deal, will now discuss a plan proposed by creditors. |
| Greece's Yanis Varoufakis will attend and argue Athens' counter-proposal. | Greece's Yanis Varoufakis will attend and argue Athens' counter-proposal. |
| Time is running out to secure a deal. Greece must repay a €1.6bn (£1.1bn) IMF loan by next Tuesday or face default. | Time is running out to secure a deal. 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 the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) unlock the final €7.2bn tranche of bailout funds for cash-strapped Greece. | Only once agreement is reached will the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) unlock the final €7.2bn tranche of bailout funds for cash-strapped Greece. |
| The crisis threatens to overshadow the EU summit opening on Thursday afternoon. | |
| Sticking to proposals | |
| Eurogroup head Jeroen Dijsselbloem said finance ministers would be using the creditors' plans as a basis for an agreement. | |
| "The only thing we have presented to the Eurogroup is what the institutions have made together," he said. | |
| "We don't have agreement from the Greeks on that so we will have to hear in the Eurogroup meeting from the Greek side what their ideas are, what they could agree to, what they could not agree to and we'll take it from there." | |
| Meanwhile Greek officials said Athens would be sticking to its own proposals, presented on Monday. | Meanwhile Greek officials said Athens would be sticking to its own proposals, presented on Monday. |
| Latest updates: Business live | Latest updates: Business live |
| 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. |
| The Greek plan is believed to include: | The Greek plan is believed to include: |
| See the proposals in full | See the proposals in full |
| 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. |
| IMF worry - Andrew Walker, BBC economics correspondent | IMF worry - Andrew Walker, BBC economics correspondent |
| Throughout the Greek crisis, the IMF has been concerned that the programme should add up. That means that specific actions should be able to achieve whatever targets are agreed for the Greek government's borrowing needs. | Throughout the Greek crisis, the IMF has been concerned that the programme should add up. That means that specific actions should be able to achieve whatever targets are agreed for the Greek government's borrowing needs. |
| In the current impasse, one concern is that the Greek proposals include too much emphasis on tax rather than spending. | In the current impasse, one concern is that the Greek proposals include too much emphasis on tax rather than spending. |
| The IMF worry is that might aggravate the economy's weakness. For the long term the IMF's concern is that Greece should ultimately have a sustainable debt burden and has been telling the eurozone that it should be thinking about debt relief. | The IMF worry is that might aggravate the economy's weakness. For the long term the IMF's concern is that Greece should ultimately have a sustainable debt burden and has been telling the eurozone that it should be thinking about debt relief. |
| Like the other players in this crisis, the IMF has politics to contend with: IMF member countries (Brazil has been a notable example) who have in the past been unhappy about the organisation's financial support for Greece. | Like the other players in this crisis, the IMF has politics to contend with: IMF member countries (Brazil has been a notable example) who have in the past been unhappy about the organisation's financial support for Greece. |
| The Greek prime minister held 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 Mr 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. |
| 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 debt crisis is set to dominate as European leaders meet in Brussels on Thursday. | |
| Also on the agenda of the summit 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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