Greece debt crisis: EU summit cancelled as talks continue

Big 5

A summit of all European Union members planned for Sunday has been cancelled as “very difficult” talks over a third bailout deal for Greece continue.

Eurozone finance ministers adjourned the talks last night and they are now resuming.

European Council president Donald Tusk said a meeting of Eurogroup leaders would go ahead at 14:00GMT and “last until we conclude talks on Greece”.

Without a deal, it is feared Greece could crash out of the euro.

The BBC’s Jonny Dymond in Brussels says that rarely have EU meetings been cancelled at such short notice and with such a terse announcement.

Marathon talks on Saturday had ended without agreement and Eurogroup leader Jeroen Dijsselbloem described negotiations as “very difficult”.

“We have had an in-depth discussion of the Greek proposals, the issue of credibility and trust was discussed and also of course financial issues involved, but we haven’t concluded our discussions,” Mr Dijsselbloem, who heads the Eurogroup of finance ministers, told reporters.

“It is still very difficult but work is in progress.”