Summary

  • Eurozone ministers speak of 'difficult issue of trust' over Greek promises to implement reform

  • They are assessing Greek proposals similar to those rejected in last Sunday's referendum

  • Athens aiming to secure a new bailout and avoid exiting the euro

  • One option reportedly suggested by Germany would see Greece temporarily leave the eurozone

  1. Goodbyepublished at 23:52

    Thanks for staying with us...

    It's been a long day and an even longer night in Athens, Brussels and here in London. We're bringing our live coverage to a close now. But you can keep up to date with all the latest developments here

  2. Cold comfortpublished at 23:51

    Robert Peston, BBC's economics editor

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  3. Dijsselbloem: 'Issue of credibility'published at 23:35

    News agency AFP quotes Eurogroup chief Jeroen Dijsselbloem as saying: "We have had an in-depth discussion of the Greek proposals, the issue of credibility and trust was discussed and also of course financial issues involved, but we haven't concluded our discussions.

    "It is still very difficult but work is still in progress."

  4. Malta's PM prepared for 'long day'published at 23:23 British Summer Time 11 July 2015

    Joseph Muscat, Prime Minister of Malta.

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  5. Dijsselbloem: 'Work was difficult'published at 23:22 British Summer Time 11 July 2015

    Eurogroup President Jeroen Dijsselbloem has told journalists that the talks were "difficult", but work was still in progress.

  6. Meeting closespublished at 23:10 British Summer Time 11 July 2015

    News just in: Sources confirm that the Eurogroup meeting of finance ministers has closed for the day and will start again tomorrow.

    Finnish Finance Minister Alexander Stubb has tweeted the news below:

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  7. No easy pathpublished at 22:47

    Chris Morris, the BBC's Europe Correspondent

    This was never going to be easy. Finance ministers are drawing up a list of extra demands for Greece to approve as evidence that they actually mean business.

    Finland has said that its government is not willing to support a bailout of Greece.

    The Italians on the other had have said they will come in tomorrow and demand that a deal is done for the sake of European unity.

  8. Some welcome advicepublished at 22:46

    As the talks continue, the Greek rumour mill has gone into overdrive. But economist Tom Nuttall - along with an impish Bart Simpson - offered this warning. 

  9. Divisionpublished at 22:39 British Summer Time 11 July 2015

    Nick Malkoutzis, Deputy editor of Greek daily Kathimerini English Edition tweets

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  10. Who are the Finns Party?published at 22:33

    A general election in Finland earlier this year saw the Finns Party enter a coalition government - with its leader Timo Soini appointed foreign minister. 

    Its eurosceptic stance is likely to have played in a part in Finland's reported rejection of Greece's latest bailout proposal. Mr Soini previously described its bailout policy as "a moral hazard".

    Professor of politics at Helsinki University, Jan Sundberg, took a closer look at the party following its successful election performance. You can read his thoughts  here .  

  11. Thoughts on Greecepublished at 22:31 British Summer Time 11 July 2015

    Duncan Weldon, the BBC's economics correspondent, has taken to Twitter to list some of his thoughts amid the ongoing financial crisis in Greece. Here are a selection of some of them:

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  12. Negotiations set to continuepublished at 22:08

    AP news agency has just reported that there are few signs the Greek bailout discussions between the country's finance minister and his counterparts in the 19-country eurozone are going to wrap up any time soon. 

    The finance ministers have been meeting since mid-afternoon to assess whether Greece's reform proposals are sufficient to merit another bailout package.

    European diplomats reportedly told AP the meeting could run late, even until the early hours of Sunday.

  13. Finns can't stop Greece bailoutpublished at 21:49 British Summer Time 11 July 2015

    Jennifer Rankin , Guardian reporter tweets

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  14. Wolfgang Schäuble's 'Grexit plan'published at 21:47 British Summer Time 11 July 2015

    Mathieu Von Rohr, Deputy Head of Foreign Desk at Der Spiegel tweets

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  15. Finland out?published at 21:44

    This tweet from Finish journalist Jarno Hartikainen suggests Finland has refused to accept the new bailout proposals.

    So if Finland does put its foot down - what does that mean for Greece's chances of securing the money it needs from the European Stability Mechanism? 

    Although the support of all eurozone nations is preferable, the ESM can turn to an  "emergency" clause which states a deal can be passed if 85% of remaining members states agree.

    This graph below tweeted by Professor of Economics Karl Whelan helps explain what kind of power Finland holds compared to other nations. 

  16. Trust becomes 'big issue'published at 21:20 British Summer Time 11 July 2015

    Andrew Neil, BBC's Daily Politics presenter

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  17. Will leaders choose Grexit?published at 21:04 British Summer Time 11 July 2015

    Person looking at 'No' signImage source, Getty Images

    European Union leaders are preparing for a final decision on Greece's future at a summit on Sunday. So what are the possible scenarios, asks the BBC's Paul Kirby.

    Find out more here

  18. On Syriza's doorstep...published at 21:01

    A homeless person near Syriza's officeImage source, AFP

    As Greece's economy has declined, drug use and prostitution has become a common sight around Omonia Square in downtown Athens, writes the BBC's Jasmine Coleman.

    It is not where you would expect to find the main offices of a country's ruling political party.

    But left-wing Syriza still has its headquarters nearby, in a show of solidarity with the poor and the vulnerable that it pledged to protect when it came to power.

    Read more from Jasmine here.

  19. Grexit plan 'insane'published at 20:50 British Summer Time 11 July 2015

    BBC Newsnight economics correspondent tweets...

  20. What is the ESM?published at 20:49

    What is the European Stability Mechanism, or ESM, which Greece is seeking financial support from? 

    Our handy explainer here will tell you all you need to know.