Greece news live: EU leaders summit cancelled as ministers say ‘not possible’ to do deal today

A summit of all European Union members planned for Sunday has been cancelled as “very difficult” talks over a third bailout deal for Greece continue.

All 28 leaders, including David Cameron, had been expected to attend Sunday’s meeting in Brussels, but now talks will be confined to politicians from the eurozone countries.

“I have cancelled EUCO (European Council summit) today,” Tusk tweeted.

“Eurosummit to start at 1600 (1400 GMT) and last until we conclude talks on Greece,” he said.

Tusk had said a meeting of Eurogroup leaders would continue on Sunday and “last until we conclude talks on Greece”, BBC reported.

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Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup of finance ministers, said: “We have had an in-depth discussion of the Greek proposals, the issue of credibility and trust was discussed and also of course financial issues involved, but we have not concluded our discussions.”

Without a deal, there are fears that Greek banks could collapse within days, and the country forced to make the “Grexit” out of eurozone.

The move came after divided eurozone finance ministers held ‘very difficult’ talks on Greece late into the night on Friday.

The European Central Bank is providing emergency liquidity to keep Greek banks running, but has frozen the limit.

Saturday’s Eurogroup talks centred around a third bailout for Greece worth over 80 billion euros ($89 billion).

Some eight hours of talks failed to make a breakthrough, with eurozone nations citing a lack of trust in Greece’s radical Syriza government implementing the austerity measures promised in exchange for a third bailout.

Fresh proposals, submitted by Greek Prime Minister Alexis Tsipras, including pension cuts and tax increases that had been rejected by Greeks in a referendum last week, were approved by the nation’s parliament in the early hours of Saturday.

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