Tsipras's Syriza party

Greece's left-wing Prime Minister Alexis Tsipras is backing calls by Bolivia for a negotiated settlement to the severe political and financial crisis in Venezuela.

Yanis Varoufakis will not take part in "sad" elections expected next month in Greece and will instead focus on setting up a new movement to "restore democracy" across Europe, the former Greek finance minister told Reuters on Aug. 27.

Greek Prime Minister Alexis Tsipras announced his resignation and called for snap elections on Aug. 20, as he went on the offensive to defend the country's massive bailout after it triggered a rebellion within his own hard-left party.

Eurozone ministers meet in Brussels on Saturday for a crunch meeting after a shock call for a referendum by Greek Prime Minister Alexis Tsipras threw a push to avert a default by Athens into confusion.

By George Georgiopoulos

Greece's government prepared reform measures on Sunday to secure a financial lifeline from the euro zone, but was attacked for selling «illusions» to voters after failing to keep a promise to extract the country from its international bailout.