Greece debt talks News

In Brussels, a sense of stupor prevails. The decision comes at the worst moment, in the final stage of negotiations when "98-99 percent" of the deal had already been agreed, according to a participant in the talks.

Greece wants to continue negotiations for a cash-for-reforms deal with its creditors based on the proposals it has submitted, which the government believes are the best basis for talks, a Greek government official said on Saturday.

The euro was little changed against the dollar on Thursday as Greece once again failed to reach a deal with its creditors to avoid a debt default.

The International Monetary Fund dramatically raised the stakes in Greece`s stalled debt talks on Thursday, announcing that its delegation had left negotiations in Brussels and flown home because of major differences with Athens.

To clinch a deal, EU officials said Tsipras`s government needed to offer alternative savings and tax measures to replace proposed pension cuts and tax rises he rejected as antisocial, to deliver a modest fiscal surplus before interest payments.

Greek Finance Minister Yanis Varoufakis insisted in a German newspaper interview Wednesday that he is still in charge of Greece`s team handling crucial talks with creditors, despite a recent shake-up.

The International Monetary Fund, a partner in the international bailout of Greece, said Wednesday it was not in debt talks with the new anti-austerity Greek government.