Greece 'to make proposals soon'

Greece will make a proposal to tap Europe’s bailout fund, the European Stability Mechanism, as soon as tomorrow, the eurozone’s top official has said.

Following the conclusion of the meeting of the eurozone’s 19 finance ministers, Jeroen Dijsselbloem confirmed that the new Greek finance minister, Euclid Tsakalotos, did not deliver any fresh written proposals for a bailout deal that would help the country avoid falling out of the euro.

Mr Dijsselbloem said he “broadly agreed” that Greece needs more than a short-term financial fix.

“The ministers also broadly agreed that if there is to be another ESM programme with support it would have to be a medium-term programme for reasons of credibility,” he said.

The eurozone, he added, would first have to assess the financial situation in Greece before deciding to start talks on a possible new aid programme.