Summary

  • Greece presents proposals for reform on Thursday in the hope of getting a third bailout

  • Banks are to remain closed until Monday with withdrawals still capped at €60

  • Eurozone finance ministers to meet on Saturday to discuss proposals

  • All times BST (one hour ahead of GMT)

  1. Thank you and goodnightpublished at 23:34

    That's it for today - we're ending our coverage of the Greek debt crisis on this page. You can follow the latest developments on the BBC News website, where we shall be reporting on the details of the reform proposals submitted by Greece. The country's creditors will examine the plans, and decide whether they meet the requirements for a further bailout - and a lifeline for an economy on the brink. We leave you with an image of a riot policeman, standing guard at a demonstration in central Athens as the sun sets.

    Riot policeman in AthensImage source, Getty Images
  2. A note of caution...published at 23:30

    ... about the reform proposals from Stathis Kalyvas, professor of political science at Yale.

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  3. Debt solidaritypublished at 22.35

    In a meeting with US Treasury Secretary Jack Lew earlier today, German Finance Minister Wolfgang Schaeuble jokingly suggested swapping Greece with debt-ridden Puerto Rico.

    Greek journalist Ilias Siakantaris tweets in response:

  4. All clear. Now the wait.published at 22:18 British Summer Time 9 July 2015

    Martin Selmayr tweets again, clarifying that the Greek proposal is in order.

  5. Sent - but not signed?published at 22:07 British Summer Time 9 July 2015

    Some doubts are emerging about the delivery of the Greek proposals. Asked if he has received them, Martin Selmayr, the head of cabinet for European Commission President Jean-Claude Juncker, says in the first of two tweets "Not yet". Then he points out that signed letters are needed.

    So it seems that even if he has received the new proposals, he may regard them as incomplete.

  6. And here's the tweet that broke the newspublished at 21:29

  7. How long to wait?published at 20:50

    The Wall Street Journal's Nektaria Stamouli tweets:

  8. Finance minister profilepublished at 20:50 British Summer Time 9 July 2015

    The English-language site of Greek newspaper Kathimerini profiles the new Finance Minister Euclid Tsakalotos.

  9. What did referendum gain?published at 20:47

    BBC correspondent in Athens tweets:

  10. Euro supportpublished at 20:09 British Summer Time 9 July 2015

    More images from the pro-Europe demonstration in Syntagma Square in Athens this evening:

    Pro-European Greeks converge on Syntagma Square to show their support for the euro (9 July 2015)Image source, Getty Images
    A pro-Euro protester holds a European Union and a Greek national flag during a rally in front of the parliament building in Athens, Greece, July 9, 2015.Image source, Reuters
  11. Ms Merkel's hourpublished at 19:07

    The crisis in Greece is the biggest test the European Union has ever faced. It is also the hardest test yet for the eurozone's most powerful leader - German Chancellor Angela Merkel.

    Here is what The New Yorker's George Packer said of the chancellor's attitude to Europe in a detailed profile last year, external :

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    Merkel’s commitment to a united Europe is not that of an idealist. Rather, it comes from her sense of German interest—a soft form of nationalism that reflects the country’s growing confidence and strength. The historic German problem, which Henry Kissinger described as being “too big for Europe, too small for the world,” can be overcome only by keeping Europe together.

  12. What's in the Greek proposal?published at 18:40

    Analyst Yannis Koutsomitis quotes a source detailing the numbers in the Greek proposal:

  13. Postpublished at 17:50

    The BBC's Europe correspondent, Chris Morris, tweets:

  14. Expensive exitpublished at 17:47

    What if Greece exits the eurozone? BBC World News TV put the question to the IMF's chief economist, Olivier Blanchard, who said:

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    I think it would be very very costly for Greece... I think the rest of Europe has the tools to make sure there is no contagion.

  15. Greece set to submit proposalspublished at 17:42

    Greece will hand in its proposals to secure a third bailout "shortly", the leader of the country's junior coalition partner has said. Panos Kammenos was speaking after a cabinet meeting. The country has until the end of Thursday to make what the EU president hopes are "realistic" suggestions for reforms.

  16. Art imitates lifepublished at 17:00

    In a glorious gift for symbolism fans, as the eurozone crisis continues, the euro sculpture is currently being renovated near the old ECB headquarters in Frankfurt, Germany.

    The Euro Sculpture near the old ECB headquarters undergoes renovationImage source, Getty Images
  17. 'Brilliant' time to visitpublished at 16:44

    British historian Tom Holland tweets that now is a great time to visit Greece. The BBC has advice from travel experts here

  18. Greece vs Argentinapublished at 16:18 British Summer Time 9 July 2015

    Argentine protester during economic crisis in 2001Image source, AFP
    Image caption,

    Scenes from an economic crisis: Buenos Aires in 2001 looked a bit like Athens 10 years later

    What happens if Greece leaves the euro? No one has left before and no one was meant to leave - so no one really knows. But analysts scrabbling for a precedent keep turning to the example of Argentina, which defaulted on its debt in 2001. 

    The Financial Times (paywalled) sounded out the reaction to the Greek crisis in Buenos Aires, external. Roberto Lavagna, the Argentine economy minister who served after the default and is credited with helping the economy to recover, told the FT that the insistence on austerity was misguided:

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    The IMF has behaved with the same level of misunderstanding, recommending the same old [fiscal] adjustment plans that just don’t work. They have learnt absolutely nothing at all.

  19. A busy, busy manpublished at 16.14

    If you think you're busy, take a little moment to reflect on how much is on the plate of Germany's foreign minister, Frank-Walter Steinmeier.

    He's not only trying to negotiate a deal with Iran over its nuclear programme, but is having to watch what happens if Greece ends up slipping out of the eurozone.

    Middle East analyst Laura Rozen is in Vienna for those Iran talks - that are approaching their own deadline.

  20. Default humourpublished at 15:55

    More from Mr Schaeuble, who reportedly joked in his press conference that he would make the US an offer to swap Greece for Puerto Rico, which has also defaulted on its debts.

    Puerto Rico's debt is roughly €64 billion, compared with Greece's €345 billion. So Mr Schaeuble is out on a limb there.

    (For the record, the image above of the German finance minister sticking out his tongue is not in fact from today's press conference.)