Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Live Reporting

By Neil Arun, Claudia Allen, Roland Hughes and Joel Gunter

All times stated are UK

  1. Thank you and goodnight

    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 Athens
  2. A note of caution...

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

    Quote Message:
  3. The view from the US

    The BBC's Business reporter in New York, Samira Hussain, comments on Wall Street's view of the Greek debt crisis:

    "Financial markets in America do not appear to be worried at all about Greece. Wall Street is more concerned with the gyrations of the Chinese stock market and the New York Stock Exchange's recent "technical glitch" than the situation in Greece. The simple reason is that investors in the US have very little exposure to Greek assets. But it does not mean that policy makers in the U.S. are not paying attention. They very much are. This week, President Obama spoke on the phone with both German Chancellor Angela Merkel and Prime Minister Tsipras of Greece. President Obama's Treasury Secretary, Jack Lew, is the administration's main point person on Greece. He is regularly in contact with European leaders, putting pressure on them to come up with a debt restructuring plan for Greece. Wall Street may not be paying attention to what is happening in Greece but American policy makers certainly are."

  4. Debt solidarity

    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:

  5. All clear. Now the wait.

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

  6. Sent - but not signed?

    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.

  7. Post update

    We're still waiting to find out what's in the proposals - beyond the early reports of spending cuts and tax rises. You can also follow developments in our main news story.

  8. And here's the tweet that broke the news

  9. BreakingBreaking News

    Greece's proposed reforms, with which it hopes to qualify for a new international debt deal, have been received by the EU, a spokesman for Jeroen Disselbloem, the chair of the eurozone group of finance ministers has said.

  10. Greek media: Reforms plans sent

    Greek media is reporting that the government has sent the reforms proposal to the EU, ahead of tonight's deadline. The proposals concede to almost all the creditors' terms, reports say. We'll let you know as soon as we have more details.

  11. How long to wait?

    The Wall Street Journal's Nektaria Stamouli tweets:

  12. Finance minister profile

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

  13. What did referendum gain?

    BBC correspondent in Athens tweets:

  14. Greek MPs to examine reforms

    On Friday, the Greek government will ask parliament to approve negotiations over the reforms demanded by creditors, according to a government source quoted by Reuters news agency.

    The source said the government will ask for approval to discuss the so-called "prior actions" - the laws for reforms that Greece is being asked to pass.

    "This is a move to show that the government has the political will to proceed with implementing the promised reforms but without making any unilateral move before a Eurogroup meeting," the source told Reuters.

  15. Euro support

    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)
    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.
  16. In Europe... for now

    Demonstration in Athens

    Demonstrators gathered in Athens this evening to show their support for staying within the eurozone. Most Greeks are said to oppose leaving the single currency - even though their vote in last Sunday's referendum on a debt deal has raised the risk of an exit.

  17. Ms Merkel's hour

    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 :

    Quote Message: 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.
  18. What's in the Greek proposal?

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

  19. Greek government agrees on proposals

    Greece says it has agreed a new package of economic reforms which it will present to its European creditors in the coming hours. The package is thought to include more cuts and tax rises.

    The deadline for presenting the measures expires tonight.

  20. A failure on many fronts

    Who got us into this mess? According to Chris Crook, columnist at Bloomberg, the blame lies with the Greek government - but also, and even more so, with the creditors.

    "This needless delay, and the hardening, insidious logic of default, is even more the creditors' fault than it is Greece's," he writes.

    "The creditors will bear their full share of the cost of default. To repeat, if they'd shown a little flexibility early on, they could have had 70 percent of what they were owed. They're headed for collecting next to nothing - while undermining the foundations of Europe's monetary union in the bargain."

  21. Post update

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

  22. Expensive exit

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

    Quote Message: 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.
  23. Greece set to submit proposals

    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.

  24. Eurozone 'willing' to talk

    Valdis Dombrovskis

    What can the EU expect from Greece when the trust is gone? In an interview with the BBC's HARDtalk programme, Valdis Dombrovskis, the European Commission Vice President for the Euro and Social Dialogue, acknowledges that trust is low - but insists this does not mean the end of the road.

    "The situation is certainly very complicated and lots of goodwill and lots of trust has been lost," he says. "But now it is clear that decisions by both the Eurogroup and Euro summit was to make another try.... Eurozone countries are willing to negotiate with Greece and are willing to find a solution, so it is really important that all sides, including Greece, take responsibility."

    You can watch the full interview on Friday, 10 July, on BBC World (0330 GMT), as well as on the BBC News Channel tonight at 2030 and tomorrow at 0030 for UK viewers.

  25. Optimism on the markets

    A stock market trader in the US

    European stock markets appear hopeful of the chances of a deal being reached between Greece and its creditors, with major indexes closing up for the day.

    • Germany's Dax finished at 10996.41, up 2.32%
    • France's Cac ended at 4757.22, up 2.55%
    • Britain's FTSE closed at 6581.63, up 1.40%

    In the US, both the Dow Jones and Nasdaq have made early gains.

  26. Art imitates life

    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 renovation
  27. 'Brilliant' time to visit

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

  28. Greece vs Argentina, round two

    However, New York Times columnist Paul Krugman - another fierce critic of austerity - warns that "you can't use Argentina as a reason to fear Grexit".

    Why? He says Argentina's GDP plummeted in the panic before its peso was devalued - and not as a result of devaluation. With Greece too, he says, much of the panic has already taken place - so the worst may have passed.

    Though, he adds, "it's easy to think of reasons why Grexit might not stabilize the situation as quickly as peso devaluation did".

  29. Junck bonds

    The European Commission President, Jean-Claude Juncker, has been meeting members of the Greek opposition New Democracy party, as part of efforts to secure consensus on a deal. Dora Bakoyiannis, pictured below, told Associated Press she hopes for an agreement that prevents Greeks having to "pay the price for amateurishness, obsessiveness and egotism".

    European Commission President Jean-Claude Juncker meets members of the Greek opposition New Democracy party
  30. Greece vs Argentina

    Argentine protester during economic crisis in 2001
    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. 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:

    Quote Message: 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.
  31. A busy, busy man

    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.

  32. Default humour

    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.)  

  33. Greece needs a haircut, but it can't have one

    German Finance Minister Wolfgang Schaeuble has admitted that the IMF is correct in saying Greece needs a haircut to cope with its debt - then poured cold water on the haircut.

    He told a press conference in Frankfurt: "Debt sustainability is not feasible without a haircut and I think the IMF is correct in saying that."

    But: "There cannot be a haircut because it would infringe the system of the European Union."

    Schaeuble did say that in the absence of a haircut "reprofiling" of debt was a possibility, but leeway to do it was limited.

    "I think the leeway we have ... is very low," he said, adding that he was 'sceptical' much could be done.

    If this man is Greek, Germany has ruled this out
    Image caption: If this man is Greek, Germany has ruled this out
  34. Bad for the Balkans?

    Would a eurozone exit fling Greece into the arms of Russia and upend the geopolitical chessboard? An analysis by Dimitar Bechev for Foreign Policy suggests the implications of Grexit - for Europe, Russia and the US - may not be as dramatic as many imagine. Rather, its impact will be strongest in its immediate neighbourhood - the Balkans.

    Quote Message: If the crisis and the possibility of a Grexit have created a geopolitical problem, it is in Greece’s diminishing capacity to serve as an example to neighbors and a driver of positive change ... Today’s Greece in crisis will not become a rogue state - but it will be one deeply absorbed in its own depression and its own affairs, with little to offer to its allies and neighbors.
    Map
  35. Schaeuble: chances of deal "rather limited"

    German finance minister Wolfgang Schaeuble has taken a couple of potshots at Greece and its unconventional former finance minister.

    Speaking at a press conference in Frankfurt, Mr Schaeuble said that for a deal "there need to be prior actions, actions meant to build trust".

    "I don't see any prior actions," he said.

    Mr Schaeuble apparently remains doubtful of an agreement, telling reporters the chances of seeing those prior actions before Sunday "rather limited".

    In a sideways shot at the casually attired, motorbike-riding former Greek finance minister Yanis Varoufakis, Mr Schaeuble called Mr Varoufakis' successor Euclid Tsakalotos "more conventional than his predecessor".

    Messrs Tsakalotos and Vaoufakis were snapped at the Greek parliament this afternoon, chatting away on the back benches...

    The Finance Minister of Greece, Euclid Tsakalotos (L), and his predecessor, former Finance Minister Yanis Varoufakis
    The Finance Minister of Greece, Euclid Tsakalotos (L), and his predecessor, former Finance Minister Yanis Varoufakis
  36. From Greferendum to Breferendum

    The Greek referendum last weekend holds many lessons for the UK,  according to Richard Rose of the University of Strathclyde, writing for the LSE. 

    Britain will hold its own referendum in 2017 on its membership of the European Union. So what should the UK avoid? 

    Quote Message: "An unclear question, a rushed campaign, the tendency to downplay the influence of other EU states over the outcome, and an inconclusive result."
  37. IMF downgrades growth forecast

    The IMF has lowered its 2015 global economic growth forecast. It now says it expects the world economy to grow 3.3% this year, down from a forecast of 3.5% in April and slower than the 3.4% growth seen in 2014.

    But financial stress in Greece is not the main culprit. Noting that Greece makes up just 2% of the 19-nation eurozone's economy and less than 0.5% of the world's economy, Olivier Blanchard, director of research at the IMF, said Greece posted little threat beyond Europe.

    The world economy had "withstood the stress tests of the last two weeks fairly well" and the effects of the Greek crisis "are likely to be limited," he said.

    Instead the downgrade largely reflected a first-quarter contraction in the US economy, in part due to severe winter weather.

    The IMF said it predicted a rebound in activity in a number of distressed economies would strengthen growth to 3.8% in 2016.

  38. Imports pile up at Piraeus

    With no money to pay shippers, imported goods are getting stuck at Athens seaport Piraeus. The New York Times reports:

    Quote Message: With banks closed and the government virtually out of money, Greece has become isolated from the international economy — a big problem for a country that relies on imports for 65 percent of its goods. Cargo containers of food, some medicines and other daily necessities are beginning to pile up on the docks at Piraeus, the international seaport outside Athens, because capital controls make it difficult or impossible to pay the shippers.
    Cargo containers pile up at Piraeus seaport
    Image caption: Cargo containers pile up at Piraeus seaport
  39. Drachmas, anyone?

    BBC producer Sarah Holmes, in Athens with presenter Tim Willcox, just tweeted this:

  40. A helping hand

    Greek pensioner outside bank

    An Australian man is flying to Greece to help out a pensioner who was photographed crying outside a bank, the AFP news agency says.

    James Koufos, the head of a finance firm in Sydney, said he recognised 77-year-old Giorgios Chatzifotiadis as a friend of his late father, after seeing pictures in the news of the distraught pensioner. 

    The BBC's Newsbeat has the full story.

    And we reported last week on the original photograph, and on the plight of Greek pensioners.

  41. French aid rumours denied

    The Greek media have reported that financial experts from France are helping Greece put together its reform plan. It's a story that has been backed up in the French press too.

    But France - which has taken a largely conciliatory tone towards Greece - has denied any of its officials were involved.

    AFP quoted one un-named official as saying: "France wants to help things along and very much backs an agreement, but in no way are we helping them draft the proposals."

  42. Light at the end of the tunnel?

    This just in from the Twitter account of BBC news comedy show Have I Got News For You. It goes without saying that this is not the view of the BBC, anyone working at the BBC or anyone related to anyone working at the BBC.

  43. Merkel: 'No haircut'

    German Chancellor Angela Merkel has again emphasised that Greece cannot get a fresh 'haircut' - or a further writedown of its debt.

    "I have said that a classic haircut is out of the question for me and that hasn't changed between yesterday and today," the chancellor told Reuters news agency on a trip to Sarajevo.

    However, others - including the IMF and the European Council - have suggested that Greece's creditors need to start thinking about restructuring its debt.

    German Chancellor Angela Merkel arrives at Bosnian Parlament in Sarajevo, Bosnia, Thursday, July 9, 2015.
    Image caption: Angela Merkel arrives at the Bosnian Parliament in Sarajevo, Bosnia, on Thursday
  44. Tusk comments

    Earlier, we brought you comments from the European Council chief Donald Tusk, where he said he was hoping Greece would make concrete proposals before tonight's deadline.

    Here's more of what he had to say:

    View more on youtube
  45. Markets continue to rise

    European markets are still on the up today, in anticipation of a deal. France's CAC index is now up 2.5% and German's DAX index up 2.2%. The FTSE 100 is up 1.8%.

  46. Seal of approval?

    Greece's cabinet is about to start a meeting. They're expected to put a final seal on proposals they will put to creditors, who hope the proposals will arrive by midnight, Brussels time.

  47. China stock crash dwarfs Greece's debt

    Over on our business live blog is coverage of today's other major financial story - the drop in value of stocks in China.

    (They've actually risen a bit today - here's the very latest.)

    But how does the value wiped off China's stocks compare with the crisis in Greece?

    graphic showing China shares value
  48. Where do we go from here?

    What are the main options now for Greece?

    There are two obvious outcomes to the crisis, a deal or an exit from the eurozone, but three ways of getting there.

    Our colleagues at BBC Graphics have produced this handy flowchart.

    Graph showing Greece's options
  49. Russia 'not rubbing its hands'

    Russian Foreign Minister Sergei Lavrov speaks during a meeting with Secretary General of the Organization of Islamic Cooperation (OIC) Iyad Amin Madani in Moscow, Russia, June 11, 2015.

    Russia's foreign minister, Sergei Lavrov, said this morning that his country is not enjoying the spectacle of Europe struggling to find a solution to Greece's problems.

    "Any idea that Moscow is rubbing its hands over the crisis ... is wrong," he said. "It is a distortion of our position and our interests."

    Russia is interested is in a "strong, functioning, economically-growing European Union," he added.

    Russia has poured cold water on speculation in recent weeks that it would help Greece out with a cash injection.

  50. Tusk calls for debt relief

    As well as calling for Greece to submit realistic proposals today, an even-handed EC president Donald Tusk echoed IMF chief Christine Lagarde in calling for Greece's creditors make their own credible proposals for Greek debt relief.

    The BBC's chief correspondent Gavin Hewitt tweets:

    The focus of those calls will fall on Germany, most resistant among the Greece's major creditors to offer debt relief.

  51. Mark your diaries...

    The timings are in: we now know when the important meetings will start on Sunday.

    The eurozone's finance ministers will get together in Brussels at 15:00 local time (14:00 BST) - then the same countries' leaders will meet an hour later.

    All European Council countries will then gather two hours after that, at 18:00 Brussels time (17:00 BST).

    Pay a visit to the BBC News site for our live page on Sunday covering all the developments.

  52. Kammenos: 'Everything is going well'

    Greece"s Defense Minister Panos Kammenos speaks to the media after a meeting with the Greek political party leaders at the Presidential Palace in Athens, Monday, July 6, 2015.

    Some positive noises appear to be coming from Panos Kammenos, head of Syriza's right-wing, anti-austerity coalition partners, Independent Greeks.

    Nick Malkoutzis, deputy editor of Greek newspaper Kathimerini, has just tweeted:

  53. Juncker to meet Greek opposition

    European Commission President Jean-Claude Juncker will meet members of Greece's opposition parties in Brussels today and tomorrow.

    "President Juncker will meet later today, I believe at 14:30 (13:30 BST), a delegation by the opposition party New Democracy," Margaritis Schinas, a Commission spokesperson said.

    "I can also confirm that tomorrow, at 10:30 (09:30 BST), the president has agreed to welcome here...Stavros Theodorakis, the president of To Potami party."

    New Democracy has two of its most senior politicians in town to keep tabs on the talks and make sure all sides of the crisis are put forward to Greece's interlocutors.

  54. 'Why don't you tell me what's going on?'

    If you're looking for some music to accompany your reading, let us make a suggestion.

    We can't be sure whether the lyrics of 'Tusk' by Fleetwood Mac were directly inspired by Donald Tusk, president of the European Commission, and his eagerness to hear of Alexis Tsipras' plans for Greece's future, but when you read them...

    Why don't you ask him if he's going to stay?

    Why don't you ask him if he's going away?

    Why don't you tell me what's going on?

    View more on youtube
  55. Donald Tusk: 'I promised I would be discreet'

    Donald Tusk, president of the European Council, spoke to Mr Tsipras over the phone earlier. 

    Speaking at a press conference now, Mr Tusk refused to be drawn on details of the call but sounded a hopeful note about the deal and called for "loyalty" among eurozone leaders.

    "I promised Mr Tsipras I would be discreet about our phone call," he said.

    "In such a difficult moment you have to be loyal to each other. In some ways we are in a difficult moment because of a lack of loyalty among leaders."

    He added: "We are ready to support only good solutions. Let me talk today about our good efforts and not our possible bad results."

    He did say he was hoping for "concrete and realistic" proposals from Greece today, and an "equally realistic proposal" form creditors.

    That last bit? That's from Cicero. It means "Thrift is a great revenue".

    There's been a lot of fingerpointing over this crisis, but that might be the first of it in Latin.

  56. Emotions run high at banks

    Pensioners in Athens

    We are becoming accustomed to these scenes: pensioners, some distraught, queuing to withdraw their weekly allowance of €120 (£86; $134).

    Other people can withdraw up to €60 per day.

    These images are from banks in Athens and Thessaloniki today.

    Pensioners in Athens
    Pensioners in Athens
    Pensioners in Thessaloniki
  57. The view from Greeks - in Germany

    Greek cafe in Offenbach, Germany

    Greece's financial troubles have seen a large number of its people move abroad in recent years.

    There are now some 330,000 Greek people living in Germany - where anti-Greek sentiment is high.

    Our business reporter, Joe Miller, has been to Offenbach to speak to Greek people living in a country that is at odds with their homeland. Here's his report.

    You can also follow Joe on Twitter.

  58. More options for a bailout?

    A bit more now from Greece's energy minister - and head of the left-wing group within the ruling Syriza party - Panayiotis Lafazanis.

    At 09:39, we told you Mr Lafazanis was determined not to back proposals by creditors that imposed more austerity on Greece.

    Here's more from him in Greece's Kathimerini newspaper: "We know that at this point all options are hard.

    "But the worst of these, the most debilitating, humiliating and unbearable is a deal that will signal the surrender, pillaging and subjugation of the country and the people.

    "This is a choice we will never make."

    Intriguingly, he also said that Greece has alternative options to a new bailout deal with the European Commission, European Central Bank and International Monetary Fund, saying that "there is no gun pointed at its head."

  59. Greek unemployment falls

    A man begs on the street near the Perama Shipyard on July 8, 2015 in Athens, Greece

    Unemployment in Greece has actually dropped to its lowest level in three years, according to statistics agency Elstat.

    The figures for April show joblessness is now at 25.6% - down from 25.8% the previous month.

    It's the lowest rate since July 2012 - and down on the record high of 27.9% registered in September 2013.

    Greece does still have one of the highest rates of unemployment in the world though.

  60. Doubting Draghi

    Some grim noises coming from the head of the European Central Bank, Mario Draghi.

    Mr Draghi is quoted in the Il Sole 24 Ore newspaper as saying he doubts a solution will be found for Greece.

    As he was boarding a plane to Brussels on Wednesday, a reporter asked him if a deal was likely.

    His response? "I don't know, this time it's really difficult."

    Of course, this was on Wednesday. A week may be a long time in politics, but everything can change in a day in the eurozone.

  61. Markets rally

    European markets were up this morning despite the seemingly precarious situation in Greece. In early trading, France's CAC and Germany's DAX both rose more than 1%, suggesting confidence in a deal. The FTSE 100 was up 0.6%.

  62. Hard to swallow?

    If you're the German finance minister, the head of the IMF, or the head of the European Central Bank - you may want to look away now. There's a bakery in Athens that isn't your biggest fan.

    This was spotted by BBC producer Imelda Flattery this morning.

  63. 'Maybe we'll be paid in IOUs...'

    Nikolopolous family, Athens

    The BBC's Turkey correspondent Mark Lowen was our man in Greece for some time - and he's been getting re-acquainted with his old patch.

    He went to one Athens suburb to interview the Nikolopolous family and see how they make a living - and how austerity has affected them.

    Dimitra Nikoloplous and her husband are expecting their salaries on Monday, but they're not sure in what form.

    "Maybe we'll be paid in IOUs ... or drachmas," says Dimitra.

    You can listen to the interview here on Soundcloud.

  64. Divine intervention

    The most senior of ministers weighs in

  65. Keeping an eye on proceedings

    There is concern among opposition parties in Greece that Prime Minister Alexis Tsipras may not be willing to do what it takes to reach a deal with creditors.

    New Democracy leader Evangelos Meimarakis has sent two of the parties senior politicians, former ministers Dora Bakoyannis and Costis Hatzidakis, to Brussels to monitor the talks.

    "In Brussels to strengthen the national effort," Ms Bakoyannis tweets.

  66. 'The old way of living'

    The BBC's Jasmine Coleman is roaming Greece to bring us stories of how people across the country are feeling about the crisis.

    Today she has a report from the wine-making Attica region.

    "We are finding a way to survive in this situation," cafe owner Aris Gkliatis tells her.

    "We are going back to the real values of living - the old way of living."

    You can read her latest piece here.

  67. And the latest deadline is...

    Greece's cabinet has until 22.00 GMT (00.00 local time) to present its proposals, reports the BBC's chief correspondent Gavin Hewitt.  

    Meanwhile Jens Weidmann, head of the German central bank, says capital controls should be kept in place in Greece until a deal is struck.

  68. A possible obstacle?

    Minister of Productive Reconstruction, Environment and Energy Panagiotis Lafazanis arrives for a cabinet meeting at the parliament in Athens May 12, 2015

    There seems to be a lot of movement on the Greek side towards a deal.

    But there may be one obstacle within PM Alexis Tsipras's own party, Syriza.

    Panagiotis Lafazanis, the leader of a far-left group within Syriza (and Mr Tspiras' own energy minister) says he may stand in the way.

    "We don't want to add a third bailout of tough austerity which will not give any prospect in the country," he said.

    He is also quoted by Kathimerini newspaper as saying there were "other options" available.

    Watch this space...

  69. The deadlines

    Whichever way it goes for Greece and its creditors, it's going to happen fast. Here's the itinerary for the next five days.

    Thursday 9 July: deadline for Greece to submit new debt proposals

    Saturday 11 July: eurozone finance ministers meet

    Sunday 12 July: all 28 members of the European Union meet to decide Greece's fate

    Monday 20 July: €3bn payment due from Greece to the European Central Bank

  70. Welcome to our live page

    It's crunch time. Greece has until the end of the day to present new proposals to secure a third bailout from creditors and prevent a possible exit from the eurozone.

    If new proposals are made, they will be studied by eurozone finance ministers on Saturday ahead of a full EU summit on Sunday.

    Greece's bank closures and a daily cash withdrawal limit of €60 (£43; $66) have been extended until Monday.

    We'll be covering all the developments here as they happen, so stay tuned...