The Latest: Greek Banks in Focus as Bailout Talks Resume

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

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11:20 a.m.

Greece's banks, according to many accounts, have barely enough cash in their vaults to see the country through the week.

Greece's banks have been shuttered for the best part of two weeks and daily withdrawals from ATMs have been limited to a paltry 60 euros ($67). The economy is in a freefall and the country faces big debt repayments in coming weeks.

Greece has already defaulted on a 1.6 billion euro ($1.8 billion) payment to the International Monetary Fund last month. It has another 4.2 billion-euro payment on July 20 due to the European Central Bank.

Greece has asked Europe's bailout fund for a 53.5 billion-euro 3-year financial package but many EU officials believe that won't be enough.

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10:55 a.m.

The finance minister of Cyprus, a traditional ally of Greece, says a way can be found to secure Greece's place in the euro.

However, Harris Georgiades warned that choices based on "populism, slogans and extremes" won't lead to a deal.

Georgiades spoke as he headed into a meeting of the eurozone's 19 finance ministers. On Saturday, the so-called eurogroup broke up after more than eight hours of discussions having failed to make a breakthrough over the Greek crisis.

"We have to work less on the basis of emotion and more on the basis of reason and the difficult, but necessary choices that till create prospects, " said Georgiades.

Georgiades said Cyprus stands firmly behind Greece in tough negotiations with its European creditors because it wants to see the country remain in the eurozone.

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10:40 a.m.

Finnish Finance Minister Alexander Stubb said he was "still hopeful" for a deal on Greece's financial crisis, but the two sides were "still very, very far away."

He said in a scale of 1-to-10, Greece and its 18 partners in the eurozone were only "somewhere between 3 and 4" when it came to any agreement.

Stubb denied that Finland was blocking an agreement, saying all countries were trying to find an exit from a "very difficult situation."

Greece has asked Europe's bailout fund for a 53.5 billion-euro ($59.5 billion) 3-year financial package but many EU officials believe that won't be enough.

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10:25 a.m.

European Union President Donald Tusk has decided to cancel a summit of the bloc's 28 leaders and instead center only on a summit of the 19 eurozone leaders to find a solution on Greece's bailout crisis.

In an early morning tweet, Tusk said the eurozone summit would start in mid- afternoon "and last until we conclude talks" on Greece.

A full day of talks Saturday among the 19 finance ministers hardly brought the sides closer together, with ministers still distrustful over Greece's ability to enact financial reforms

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9:45 a.m.

For the Greek bailout talks to be successful, European officials say it's all about trust.

Greece will have another, possibly its last, chance Sunday to convince skeptical European creditors it can be trusted to enact wide-ranging economic reforms that would safeguard its future in the common euro currency used by 19 European nations.

The talks in Brussels resume at 11 a.m. (0900 GMT), just a few hours before the European Union's 28 leaders descend for a summit.

The two sides negotiated for eight hours Saturday where Jeroen Dijsselbloem, the eurozone's top official, says "the issue of credibility and trust was discussed."

Greece has asked Europe's bailout fund for a 53.5 billion-euro ($59.5 billion) 3-year financial package but many EU officials believe that won't be enough.

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