Rather than walking out, Greek PM Alexis Tsipras is negotiating on four key points in tonight's proposals, reports The Economist's Tom Nuttall.
1 No IMF involvement
2 Stronger statement on debt
3 Signal to ECB to maintain ELA
4 Scrap 50bn idea
Meanwhile The Press Project has done some research on the Luxembourg "Institution for Growth" to which the 4-page eurogroup paper demands that €50bn of Greek state property must be transferred.
This Luxembourg "institution" is a wholly owned subsidiary of KfW and the chairman of the board is none other than Wolfgang Schaeuble himself.
The Institution for Growth was announced just two years ago, by Schauble and former Greek PM Antonis Samaras.