Greece has agreed to harsh terms for a new three-year bailout package with international creditors, Greek and European Union officials said, with a few remaining details to be ironed out.

Greece has agreed on the broad terms of a new three-year bailout package with international creditors, with only a few details left to iron out, officials said.

European Union (EU) and International Monetary Fund (IMF) negotiators have begun talks with Greece to hammer out details of a third international bailout worth €85bn.

Greece and rescue lenders are still working out the format of upcoming talks, the country’s labour minister said today, confirming a delay in the negotiations for a third international bailout.

While 80% want to stay in the EU, many also profess to be socialist. A balance of free-market ideals and privatisation, tempered by debt relief, is the best compromise, says Paul Glader

Eurozone finance ministers remain locked in talks aimed at resolving a serious disagreement about a third Greek bailout.

Greece’s negotiators head to Brussels armed with their reform proposals and parliamentary backing to seek a third bailout, but with the shadow of severe dissent from governing politicians hanging over them.

The Greek parliament has backed government proposals for economic reforms in the hope of ending the country’s debt crisis.

Today is ‘D-Day’ for Greece as the eurogroup wait to receive and evaluate proposals from the Tsipras government for a third bailout programme.

The Greek prime minister Alexis Tsipras is to make a direct appeal to the European Parliament amid growing pessimism over chances of a deal to prevent the country’s financial meltdown.

Short term financing and a longer term programme with widespread changes to the Greek economy were on the table last night but EU leaders gave Greece a final deadline of Sunday to submit detailed plans.

Market hopes for a Greek deal went on something of a roller coaster ride as initial pessimism turned to hopes after confirmation that Greece would likely table its formal bailout plan to the European authorities later today.

Greek prime minister Alexis Tsipras launched a desperate bid to win fresh aid from creditors at an emergency eurozone summit yesterday, before his country’s banks run out of money.

Greek prime minister Alexis Tsipras was met with anger at a summit of eurozone leaders after it became clear he had no written proposals on how to save his country from financial ruin.

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.

In carefully choreographed moves, the ECB has agreed to continue providing emergency liquidity assistance to Greek banks, but adjusted the collateral needed, in effect taking the first steps towards a Greek bank bail-in.

The ECB pushed Greece to the precipice of leaving the euro last night as it moved closer toward cutting off its money supply.

Greece emptied an emergency IMF holding account to repay €750m due to the international lender, a Greek central bank official said, avoiding default but underscoring the dire state of the country’s finances.

Support for the hard left and hard right is receding across Europe, as voters and political parties inch back towards the centre, writes Kyran Fitzgerald.

Greek prime minister Alexis Tsipras has reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to relegate embattled finance minister Yanis Varoufakis to a less active role in negotiations.

Sinn Féin have pledged to introduce a third higher rate of tax as well as a wealth tax if put in power, as the party defended the millions of dollars in funding it has received from US business leaders.

Finding common ground between the Syriza-led government and German-led austerity measures is needed if Greece — and the eurozone — is to survive, writes Ann Cahill.