Euro Group

France’s Liberation is the latest major foreign media outlet to detail the Tsipras government’s often disastrous negotiations with European creditors over the past few months, before finally agreeing to a harsher bailout plan that one presented in February and even rejected by Greek voters in a July referendum.

Friday’s crucial Eurogroup meeting is underway in Brussels to discuss the 3rd bailout program for Greece, after the Greek parliament passed the terms of the new memorandum of understanding (MoU) earlier Friday, which had been agreed between Greece and EU institutions on Tuesday.

By European Council President Donald Tusk

The Eurozone would like to receive a new letter with reform proposals from Greece, Eurogroup head Jeroen Dijsselbloem has said.

His remarks came minutes after a new Eurogroup meeting on Tuesday ended with no concrete results.

Greek Finance Minister Euclid Tsakalotos, who took over from Yanis Varoufakis on Monday, was also present.

(UPD-17.20) The Eurogroup meeting has concluded. Reports say Greek PM Alexis Tsipras will address the European Parliament on Wednesday. Finance Ministers are expected to talk to the media shortly.

The Greek government has rejected the latest proposals from its creditors, the head of the euro zone grouping of finance minister said on Saturday, warning that Athens has "closed the door on further talks» and the euro zone will talk about "further consequences."

A teleconference between the BoG and the ECB is ongoing, after just after noon (10.00 GMT). According to sources, once the teleconference is complete, a new conference between central bankers and BoG Gov. Yannis Stournaras will take place. During the conference, crucial decisions will be made.

Finance Minister Yanis Varoufakis is to face his eurozone peers again on Saturday for a critical summit where Greece is being pressed to decide whether to accept the latest proposal by the country?s creditors or face default and a potential exit from the eurozone.

Saturday?s crucial Eurogroup meeting, which is being seen as a make-or-break moment for Greece?s negotiations with the institutions, is due to start at 6 p.m. Greek time, it has been announced.

Prime Minister Alexis Tsipras is visiting Brussels on Wednesday for a meeting with the heads of Greece’s three creditors: European Commission President Jean-Claude Juncker, European Central Bank Chief Mario Draghi and International Monetary Fund Head Christine Lagarde. This meeting comes just a few hours prior to the Eurogroup meeting scheduled for Wednesday.