The Latest: Renzi Urges Europe to Move on From Greece

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


5:10 p.m.

Italy's premier says Europe needs to deal with the Greek crisis once and for all and move on to other pressing problems confronting the continent.

Matteo Renzi said on his arrival for an emergency summit of the eurozone's 19 leaders that "there's a great need for Europe to go back to do what it needs to do" and tackle issues.

He highlighted the uncertain situations in Libya and Ukraine as well as the terror attack on Italy's consulate in Cairo and the Iran nuclear talks.

He said Europe risks "losing the trust" of its citizens if it can't grapple with these issues effectively.

Renzi said differences between Greece and its creditors "are not just details," but that the distance between the two sides "has been greatly shortened."


4:40 p.m.

One of Greece's most outspoken critics, Finnish Finance Minister Alexander Stubb says bailout discussions with the country have taken "a good leap forward."

Following two days of talks between the Greek finance minister and his peers in the 19-country eurozone, Stubb says a package of proposals have been sent to leaders for discussion at their emergency summit meeting in Brussels.

Stubb says they involve three key elements, including the Greek parliament's passing of a series of unspecified laws by Wednesday.

If these conditions are met, then talks with Europe's bailout fund can proceed, said Stubb.

Stubb refused to comment on whether Greece would get some immediate financing to help its banks reopen. "One day at a time, one step at a time," he said.


4:20 p.m.

Jeroen Dijsselbloem, the eurozone's top official, says discussions over a Greek bailout request have come a long way but that some thorny issues remain which leaders will address later at a special summit.

Following the conclusion of what turned out to be a two-day meeting of the 19 finance ministers of the eurozone, Dijsselbloem said "we've come a long way" but that "some big issues still remain."

Dijsselbloem, in his capacity as eurogroup president will brief eurozone leaders about the progress so far.

"We're now going to inform the leaders and they're going to discuss and hopefully decide on those last issues," he said, without specifying what those issues were.


4:10 p.m.

A Greek official says Prime Minister Alexis Tsipras has spoken by phone with U.S. Treasury Secretary Jack Lew, and told him that for there to be a deal, all sides must want one.

The official, who spoke on condition of anonymity in line with government regulations, said Tsipras told Lew that Greece has proven that it does want to strike a deal but that the viability of any agreement must acknowledge what the Greek people has gone through in the last five years.

The Greek economy has shrunk by around a quarter over the past few years while unemployment and poverty rates have risen alarmingly.

---By Elena Becatoros in Athens.


3:45 p.m.

German Chancellor Angela Merkel insists that there won't be a Greek deal later Sunday "at any price."

Arriving for an emergency summit of eurozone's leaders in Brussels, Merkel says "the most important currency has been lost: that is trust and reliability."

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