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Greece wants 'fair solution' to debt offer stalemate

Greece wants to find a "viable and fair solution" with its EU and IMF lenders to agree an aid package, a government official has said.

On Friday, Greek prime minister Alexis Tsipras labelled a cash for reforms offer by the debts-seeking EU as "absurd".

Earlier, European Commission President Jean-Claude Juncker said a Greek exit from the single currency area is not an option but that does not me he could "pull a rabbit out of a hat" to prevent it.

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ECB increases emergency credit for Greece's banks

A Greek source has said that the European Central Bank (ECB) has approved an increase in emergency credit for Greece's banks.

The banks need the credit to stay afloat, particularly as Greeks have been withdrawing more money amid uncertainty over the country's future.

Greek flags on sale by a street vendor wave in front of the parliament. Credit: PA

The move came after the ECB's governing council held a teleconference to discuss the issue.

A Greek banking official said the precise sum of the new credit will not be announced.

"The Greek banking system has no financing problems, and central bankers are looking to a positive outcome" during Monday's meetings on Greece, said the official.

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Greece wants 'fair solution' to debt offer stalemate

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