The Latest: Eurozone Leaders Mull Early-Morning Compromise

Europe Greece Bailout

The latest from Greece's financial crisis (all times local):


4:25 a.m.

The 19 European leaders gathered to negotiate another bailout for indebted Greece are considering a compromise proposal.

In a tweet, spokesman Preben Aamann says host Donald Tusk is reconvening the summit, which has paused several times.

The compromise proposal early Monday followed more than 12 hours of deliberations in Brussels, in which Greek Prime Minister Alexis Tsipras sought to persuade his creditors in the eurozone to grant him a bailout deal that will secure Greece's financial future and its place in the euro.


2:20 a.m.

The leaders of the eurozone are a hit on Twitter Sunday night. Unfortunately for them, the trending of #ThisIsACoup is all hostile.

As the eurozone leaders push a list of demands in exchange for giving Greece essential short-term financial aid, many people are taking to social media to back Greek Prime Minister Alexis Tsipras. They say the proposals on everything from pension rules to privatizations amount to a coup.

The term is topping's list of hashtag trends.

Even the Nobel Prize-winning economist Paul Krugman got into the act early Monday: "This Eurogroup list of demands is madness. The trending hashtag #ThisIsACoup is exactly right."


1:25 a.m.

Cyprus government spokesman Nicos Christodoulides says in a tweet that the summit of the eurozone's 19 leaders will not reconvene before 2 a.m. Brussels time "at the earliest."

The summit on Greece has broken up on at least two occasions since the discussions began mid-afternoon Sunday. Among the key meetings have been those involving Greek Prime Minister Alexis Tsipras and the German and French leaders.

European officials, who asked to remain anonymous because the talks were ongoing, said early Monday that difficulties included the privatizations that Athens would have to enact and Greece's problems meeting its short-term debt repayments and the liquidity situation of its cash-starved banks.

---By Raf Casert in Brussels.


11:20 p.m.

European officials said talks between Greece and its European creditors appear to be stuck on several issues and a resolution is not anticipated for a while yet.

One official, who spoke on condition of anonymity because he was not authorized to speak publicly, said the main difference centered on when the European Central Bank could start to increase its emergency liquidity assistance to Greek banks.

Greek Prime Minister Alexis Tsipras wants a deal to pave the way to ECB help as soon as Monday, the official said, while European creditors would prefer to wait until the Greek Parliament passes several austerity measures.

Another official, who also spoke on condition of anonymity, said some issues remain difficult, including a proposal for Greece to transfer billions of euros worth of state assets to an independent fund in Luxembourg under European supervision.

---By Menelaos Hadjicostis in Brussels.


9:10 p.m.

The U.S. Treasury Department says Secretary Jacob Lew is "encouraged by reports of some progress" in Brussels at an emergency summit of eurozone leaders about Greece.

Lew noted that Greece is showing signs of "political will to implement difficult reforms."

In a statement issued on Sunday, Lew urged all sides to show flexibility.

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