DHAKA: 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.

Eurozone finance ministers resumed talks that began on Saturday afternoon.

Leaders of the Eurogroup countries are now gathering in Brussels. European Council president Donald Tusk said the meeting would ‘last until we conclude talks on Greece’.

Without a deal, it is feared Greece could crash out of the euro.

Arriving for the meeting, Greece’s PM Alexis Tsipras said he was looking for an ‘honest compromise’, reports the BBC.

‘We can reach an agreement tonight if all parties want it.’

Eurogroup leader Jeroen Dijsselbloem has described the negotiations as ‘very difficult’.

‘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,’ Dijsselbloem told reporters after Saturday’s talks ended.

‘It is still very difficult but work is in progress.’

BDST: 2003 HRS, JULY 12, 2015
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** Eurozone to resume Greece talks on reforms