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EU urges Greece come close to agreement 

Update : 2015-07-13 13:46:58
EU urges Greece come close to agreement 

Euro zone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the euro zone after a whole night of haggling at an emergency summit.

"Euro summit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms and financial support," European Council President Donald Tusk announced on Twitter, referring to the European Stability Mechanism bailout fund.

Following is the latest news on Greece's debt crisis as euro zone leaders fight to the finish to keep near-bankrupt Greece in the euro zone. All times are in GMT.

0640 - Euro zone leaders at a marathon emergency summit on Greece have reached agreement, officials said. "Agreement," said Belgian Prime Minister Charles Michel in a one-word tweet. The Cyprus government spokesman tweeted: "Seems we have a deal."

0638 - The bailout offer being put to Greece is unviable and will require the support of opposition lawmakers or a national unity government to implement, Labour Minister Panos Skourletis says, adding there would be a snap election this year.

0556 - The strength of the Greek government's majority is in question and no-one can blame lawmakers who won't agree to the terms of a cash-for-reforms deal with the country's creditors, Labour Minister Panos Skourletis says.

0552 - There is a "shared desire" among euro zone heads of state to keep Greece in the single currency, EU Economic Affairs Commissioner Pierre Moscovici says.

0525 - The future of Europe hangs in the balance, the head of the European Parliament Martin Schulz says.

0357 - A euro zone summit designed to rescue near-bankrupt Greece paused early on Monday for "final consultations", Malta's prime minister says.

0251 - Greece and its euro zone partners remained divided over terms for a bailout, with Athens objecting to the role suggested for the IMF and to proposals for an independent fund to hold Greek assets ahead of privatisation, a Greek government official says

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