Alexis Tsipras is putting the final touches on a new reform plan to win urgently needed bailout cash.
Point of view
"I have said that a classic haircut is out of the question, and that hasn't changed between yesterday and today"
But will the Greek Prime Minister offer enough to satisfy the creditors?
That is the big question ahead of tonight’s deadline for new proposals to head off the now very real threat of Athens crashing out of the Eurozone.
“Everything is going very well,” said the Greek defence minister, Panos Kammenos, after crisis talks. “Nobody should be worried. Everything will be fine. Very soon, we will be fine.”
When a reporter asked if there would be an agreement, he responded: “We will get it all.”
Even though the public said no last weekend to the last deal proposed by European creditors, experts predict that Greece will offer measures worth more than in the previous talks.
Analyst Jason Manolopoulos said: “Tsipras previously had agreed to the Juncker programme after it had expired which was eight billion euros of measures, and now we’re probably talking about 12 to 15 billion euros of additional measures, given that the economy has deteriorated significantly with the capital controls.”
As banks warn that cash in money machines is only guaranteed until Monday, the German Chancellor once again ruled out reducing the value of the debt.
“I have said that a classic haircut is out of the question,” she says, “and that hasn’t changed between yesterday and today.”
The closure of Greek banks has been extended until next Monday.
Some experts say a deal must be reached by Sunday to avoid Greece going bankrupt.
The European Central Bank President Mario Draghi has also for the first time publicly voiced doubts about the chances of rescuing Greece.