This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-europe-33473779
The article has changed 16 times. There is an RSS feed of changes available.
| Version 5 | Version 6 |
|---|---|
| Greece debt crisis: Eurogroup says new plan 'thorough' | Greece debt crisis: Eurogroup says new plan 'thorough' |
| (35 minutes later) | |
| The Eurogroup has described new Greek proposals on securing a vital third bailout as "thorough". | The Eurogroup has described new Greek proposals on securing a vital third bailout as "thorough". |
| President Jeroen Dijsselbloem said a "major decision... whichever way" could now be made at a eurozone finance meeting on Saturday. | |
| The plans are aimed at staving off a possible Greek exit from the eurozone. | |
| Greek PM Alexis Tsipras will put the plans, which contains many elements rejected in a referendum last Sunday, to a vote in parliament on Friday. | |
| The prime minister submitted the proposals to Greece's creditors - the European Commission, the European Central Bank and the International Monetary Fund - by the Thursday deadline they had set. | The prime minister submitted the proposals to Greece's creditors - the European Commission, the European Central Bank and the International Monetary Fund - by the Thursday deadline they had set. |
| Follow the latest updates here | Follow the latest updates here |
| European Commission President Jean-Claude Juncker, European Central Bank President Mario Draghi, International Monetary Fund head Christine Lagarde and Mr Dijsselbloem were scheduled to hold a conference call on the new proposals at 11:00 GMT. | European Commission President Jean-Claude Juncker, European Central Bank President Mario Draghi, International Monetary Fund head Christine Lagarde and Mr Dijsselbloem were scheduled to hold a conference call on the new proposals at 11:00 GMT. |
| Mr Dijsselbloem said the new Greek paper was "a thorough piece of text" and that support from the Greek parliament would give it "more credibility". | Mr Dijsselbloem said the new Greek paper was "a thorough piece of text" and that support from the Greek parliament would give it "more credibility". |
| "But even then we need to consider carefully whether the proposal is good and if the numbers add up. We have to make a major decision. Whichever way." | "But even then we need to consider carefully whether the proposal is good and if the numbers add up. We have to make a major decision. Whichever way." |
| Analysis: Robert Peston, BBC economics editor | Analysis: Robert Peston, BBC economics editor |
| Only a few days ago Mr Tsipras won an overwhelming mandate from the Greek people, in a referendum, to reject more-or-less these bailout terms. | Only a few days ago Mr Tsipras won an overwhelming mandate from the Greek people, in a referendum, to reject more-or-less these bailout terms. |
| And today, on the back of that popular vote, he is signing up to the supposedly hated bailout. This is big politics that would make Lewis Carroll proud. | And today, on the back of that popular vote, he is signing up to the supposedly hated bailout. This is big politics that would make Lewis Carroll proud. |
| But here's the point. If a way isn't found to allow the banks to reopen within days - and the ECB simply maintaining Emergency Liquidity Assistance won't come anywhere near to achieving that - the Greek economy will implode so that any bailout deal agreed this weekend will become irrelevant in weeks. | But here's the point. If a way isn't found to allow the banks to reopen within days - and the ECB simply maintaining Emergency Liquidity Assistance won't come anywhere near to achieving that - the Greek economy will implode so that any bailout deal agreed this weekend will become irrelevant in weeks. |
| Read more from Robert | Read more from Robert |
| Crisis triggers memories of World War Two | Crisis triggers memories of World War Two |
| Angela Merkel under pressure over Greek bailout deal | Angela Merkel under pressure over Greek bailout deal |
| All Greek to you? Debt jargon explained | All Greek to you? Debt jargon explained |
| Eurozone finance ministers meet in Brussels on Saturday. A meeting of Eurogroup leaders is scheduled for Sunday afternoon, followed by a full EU summit two hours later. | Eurozone finance ministers meet in Brussels on Saturday. A meeting of Eurogroup leaders is scheduled for Sunday afternoon, followed by a full EU summit two hours later. |
| Italian Prime Minister Matteo Renzi said he was optimistic and hoped a deal could be struck on Saturday so that the Sunday meetings would not be needed. | Italian Prime Minister Matteo Renzi said he was optimistic and hoped a deal could be struck on Saturday so that the Sunday meetings would not be needed. |
| French President Francois Hollande said the new proposals were "serious and credible" and that the "Greeks have just shown their determination to remain in the eurozone". | French President Francois Hollande said the new proposals were "serious and credible" and that the "Greeks have just shown their determination to remain in the eurozone". |
| However Germany, which has been far less upbeat on a deal, would not comment in detail on the new plan. | However Germany, which has been far less upbeat on a deal, would not comment in detail on the new plan. |
| Government spokesman Steffen Seibert said it was withholding judgment and waiting for the creditor institutions to give their opinion. | Government spokesman Steffen Seibert said it was withholding judgment and waiting for the creditor institutions to give their opinion. |
| Finance ministry spokesman Martin Jaeger said Germany would not accept any reduction of debt that caused it more losses. | Finance ministry spokesman Martin Jaeger said Germany would not accept any reduction of debt that caused it more losses. |
| "The outcome of the Eurogroup meeting on Saturday is completely open," he said. | "The outcome of the Eurogroup meeting on Saturday is completely open," he said. |
| 'In this together' | 'In this together' |
| In Athens, Mr Tsipras convened a meeting of his Syriza party ahead of the Greek parliamentary debate. | In Athens, Mr Tsipras convened a meeting of his Syriza party ahead of the Greek parliamentary debate. |
| A government official quoted him as telling the party's lawmakers that the referendum had given him a mandate to seek a better deal but not to leave the eurozone. | A government official quoted him as telling the party's lawmakers that the referendum had given him a mandate to seek a better deal but not to leave the eurozone. |
| "We are all in this together," he was quoted as saying. | "We are all in this together," he was quoted as saying. |
| Syriza parliamentary spokesman Nikos Filis said he was confident MPs would give the government the mandate to negotiate the new bailout package. | Syriza parliamentary spokesman Nikos Filis said he was confident MPs would give the government the mandate to negotiate the new bailout package. |
| The coalition government has 162 seats in the 300-strong parliament, and also has the backing of many opposition MPs. | The coalition government has 162 seats in the 300-strong parliament, and also has the backing of many opposition MPs. |
| However, the BBC's Mark Lowen in Athens says that no matter how it is packaged and whatever the positive spin, Mr Tsipras has made a major climb-down, with the measures he has agreed similar to what the creditors were demanding. | |
| Further rallies for and against a new bailout are planned in Athens on Friday. | Further rallies for and against a new bailout are planned in Athens on Friday. |
| Banks closed | Banks closed |
| The measures submitted in the new Greek document include: | The measures submitted in the new Greek document include: |
| Greece's creditors have already provided more than €200bn in two bailouts since a rescue plan began five years ago. | Greece's creditors have already provided more than €200bn in two bailouts since a rescue plan began five years ago. |
| The second bailout expired on 30 June. | The second bailout expired on 30 June. |
| Greece's banks are still closed and the €60 (£43; $66) daily limit on cash machine withdrawals for Greeks, imposed on 28 June, remains in force. With a shortage of €20 notes, for many the withdrawal is in effect €50. | Greece's banks are still closed and the €60 (£43; $66) daily limit on cash machine withdrawals for Greeks, imposed on 28 June, remains in force. With a shortage of €20 notes, for many the withdrawal is in effect €50. |
| Crisis countdown | Crisis countdown |
| Tsipras, Greece's high-stakes gambler | Tsipras, Greece's high-stakes gambler |
| Why Greece sees France as last hope | Why Greece sees France as last hope |
| How easy is it to swap currencies? | How easy is it to swap currencies? |
| Full coverage of Greek debt crisis | Full coverage of Greek debt crisis |
| Greek scenarios | Greek scenarios |
| European Stability Mechanism explained | European Stability Mechanism explained |