Eurozone finance chiefs hopeful of Greek bailout deal
Eurozone finance ministers have broken off talks without an agreement on Greece's bailout - although a resolution appears to be in sight.
Officials say they aim to reach a deal at a summit of European leaders on Thursday to keep the country from defaulting and falling out of the currency union. Jeroen Dijsselbloem, the Dutchman who heads the eurozone finance minister meetings, said negotiators would be using proposals made this weekend by Greek prime minister Alexis Tsipras as a basis for further talks.
"It's an opportunity to get that deal this week," he said. He said he expected a deal would be reached "within 48 hours".
European Commission president Jean-Claude Juncker said the proposals were a sign of progress but warned that "we are not yet there". Greece needs more loans from its creditors, which include its fellow eurozone states and the International Monetary Fund, in time for June 30, when it faces a debt repayment it cannot afford.
The country has been negotiating for four months what economic reforms it should make to get the money. Markets had rallied strongly yesterday on hopes that the Greek proposals would pave the way for a deal.