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| Greece debt crisis: Deadline day for new proposals | Greece debt crisis: Deadline day for new proposals |
| (35 minutes later) | |
| Greece has until the end of Thursday to present new proposals to secure a third bailout from creditors and prevent a possible exit from the eurozone. | Greece has until the end of Thursday to present new proposals to secure a third bailout from creditors and prevent a possible exit from the eurozone. |
| Prime Minister Alexis Tsipras said the "next hours will be crucial". | Prime Minister Alexis Tsipras said the "next hours will be crucial". |
| The new proposals will be studied by eurozone finance ministers on Saturday and a full EU summit on Sunday. | The new proposals will be studied by eurozone finance ministers on Saturday and a full EU summit on Sunday. |
| The Greek government has meanwhile extended bank closures and the €60 (£43; $66) daily limit on cash machine withdrawals until Monday. | The Greek government has meanwhile extended bank closures and the €60 (£43; $66) daily limit on cash machine withdrawals until Monday. |
| The curbs were imposed on 28 June, after a deadlock in bailout talks with creditors led a rush of withdrawals. | The curbs were imposed on 28 June, after a deadlock in bailout talks with creditors led a rush of withdrawals. |
| Louka Katseli, the head of the Greek bank association, said on Thursday that there was enough liquidity in cash machines to serve the public until Monday. | Louka Katseli, the head of the Greek bank association, said on Thursday that there was enough liquidity in cash machines to serve the public until Monday. |
| 'Viable solution' | 'Viable solution' |
| Mr Tsipras returned to Athens on Wednesday night after meetings in Brussels and an address to the European Parliament. | Mr Tsipras returned to Athens on Wednesday night after meetings in Brussels and an address to the European Parliament. |
| He went straight into talks with other political parties. Mr Tsipras said: "These are crucial times and it's necessary to provide proper information to the political parties so that there are no misunderstandings. | He went straight into talks with other political parties. Mr Tsipras said: "These are crucial times and it's necessary to provide proper information to the political parties so that there are no misunderstandings. |
| "I think we're proceeding within the framework of what was agreed and the next hours will be crucial." | "I think we're proceeding within the framework of what was agreed and the next hours will be crucial." |
| Crisis countdown | Crisis countdown |
| Tsipras, Greece's high-stakes gambler | Tsipras, Greece's high-stakes gambler |
| Wine-making region looks to old days | |
| Hewitt: The final showdown | Hewitt: The final showdown |
| Full coverage of Greek debt crisis | |
| He has pledged to submit "new concrete proposals, credible reforms, for a fair and viable solution" by Thursday. However, the details are scant. | He has pledged to submit "new concrete proposals, credible reforms, for a fair and viable solution" by Thursday. However, the details are scant. |
| Greece has said it wants a major restructuring of its massive debt, and on Wednesday formally submitted a request for an unspecified loan from the European Stability Mechanism bailout fund. | Greece has said it wants a major restructuring of its massive debt, and on Wednesday formally submitted a request for an unspecified loan from the European Stability Mechanism bailout fund. |
| This would be a fresh loan "to meet Greece's debt obligations and to ensure stability of the financial system", Greece says. | This would be a fresh loan "to meet Greece's debt obligations and to ensure stability of the financial system", Greece says. |
| In return it has suggested it will implement new pension and tax measures from Monday. | In return it has suggested it will implement new pension and tax measures from Monday. |
| French PM Manuel Valls said this was a step in the right direction. | French PM Manuel Valls said this was a step in the right direction. |
| And Christine Lagarde, managing director of the International Monetary Fund (IMF), one of Greece's creditors, on Wednesday admitted that "[restructuring] is needed in the case of Greece for it to have debt sustainability". | And Christine Lagarde, managing director of the International Monetary Fund (IMF), one of Greece's creditors, on Wednesday admitted that "[restructuring] is needed in the case of Greece for it to have debt sustainability". |
| She said: "Greece is in a situation of acute crisis, which needs to be addressed seriously and promptly." | She said: "Greece is in a situation of acute crisis, which needs to be addressed seriously and promptly." |
| On Thursday, EU Economics Commissioner Pierre Moscovici said he was hopeful of a new deal: "I have the sense that the dialogue is established, or restored, and that there is a way out." | |
| Greek scenarios | Greek scenarios |
| What happens next? | What happens next? |
| European Stability Mechanism explained | |
| Greece's creditors - the European Commission, the European Central Bank and the IMF - have already provided more than €200bn in two bailouts since a rescue plan began five years ago. | Greece's creditors - the European Commission, the European Central Bank and the IMF - 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. |
| The creditors had hoped for new, concrete proposals from Greece at a meeting on Monday but these were not submitted and they instead agreed to set a new deadline of Thursday. | The creditors had hoped for new, concrete proposals from Greece at a meeting on Monday but these were not submitted and they instead agreed to set a new deadline of Thursday. |
| Greece has been warned this is the "final deadline". | Greece has been warned this is the "final deadline". |
| European Council President Donald Tusk said this was "now maybe the most critical moment in the history of the eurozone". | European Council President Donald Tusk said this was "now maybe the most critical moment in the history of the eurozone". |
| "This is really and truly the final wake-up call for Greece and for us, our last chance," he said, adding that failure "may lead to the bankruptcy of Greece". | "This is really and truly the final wake-up call for Greece and for us, our last chance," he said, adding that failure "may lead to the bankruptcy of Greece". |
| On Wednesday, Mr Tsipras, speaking during a fractious debate in the European Parliament, criticised previous bailouts for turning Greece into an "austerity laboratory". | On Wednesday, Mr Tsipras, speaking during a fractious debate in the European Parliament, criticised previous bailouts for turning Greece into an "austerity laboratory". |
| He was speaking after the Greek people decisively rejected the latest proposals from creditors in a referendum on Sunday. | He was speaking after the Greek people decisively rejected the latest proposals from creditors in a referendum on Sunday. |