The central Bank of Greece recommended a bank holiday and the imposition of capital controls, Greek Prime Minister Alexis Tsipras said during a televised address to the nation on Sunday evening.
Eurogroup President Jeroen Dijsselbloem said on Saturday afternoon that 18 Eurogroup financial ministers have rejected Greece's request for an extension so that it could put the creditors' proposals to a popular vote on July 5.
With no breakthrough during Monday's Eurogroup summit in Brussels, talks on the long-awaited deal for the Greek debt resolution will be continued with a view to strike a compromise by the weekend, according to Greek government and its international lenders.
Eurogroup President Jeroen Dijsselbloem said on Monday the new proposals from Greek government which came in this morning were "a positive step" in the process and that it's possible to reach a deal within this week.
Anti-austerity protesters returned to the streets of Athens on Sunday evening as Greek Prime Minister Alexis Tsipras was due to travel back to Brussels with an updated counter proposal for a debt deal to address the Greek debt crisis.
U.S. stocks bounced back from Tuesday's sell-off on Wednesday, with the Nasdaq Composite Index setting its third closing record for 2015, boosted by improvement in the Greek debt crisis.
Greek government on Tuesday turned to the balances of dormant state accounts in an effort to collect funds to repay the next International Monetary Fund (IMF) loan installment on June 5, as Finance Minister Yanis Varoufakis assured there will be no credit event next week.
Greece was "in the final stretch" to achieve a deal on the resolution of the Greek debt crisis with its international lenders in following days, Greek Prime Minister Alexis Tsipras said on Monday in Athens.
Acknowledging corruption as a key factor obstructing debt-laden Greece's efforts to restore growth, Athens has declared a war to root out graft seeking evidence against suspects within the country and abroad.
The Greek government drafted a bill on Tuesday containing the reforms it pledges to implement in order to unlock further vital aid to stay afloat, as Prime Minister Alexis Tsipras appeared upbeat that a deal with international creditors was close.
Greece is going to adopt the Bitcoin in the event the debt-laden country doesn't reach a deal with Eurogroup, Greek news portal Greek Reporter wrote on Wednesday, citing sources very close to Greek Finance Minister Yanis Varoufakis, in an April Fool's Day joke, the annual day for pranks.
Greek government officials continued on Tuesday the tug of war with the Eurogroup President Jeroen Dijsselbloem and the German administration in public statements to local media, as U.S. government suggested calm to Athens, according to government sources.
Greek Finance Minister Yanis Varoufakis dismissed media reports on Sunday over a possible referendum for euro in Greece in case the country's creditors would not accept the government's policy program.
European Central Bank's (ECB) refusal to resume normal financing to Greek banks does not cause additional problem to Greece's financial sector, Greek government sources told local media on Thursday, commenting on the outcome of an ECB meeting in Cyprus.
A Greek official spoke on conditions of anonymity a few hours after the country formally submitted a request for a six-month extension of the four-year bailout loan agreement to the Euro Working Group in Brussels that Germany's stance was the obstacle to a compromise for the formula of cooperation between Greece's new Left-led government and European partners after the current bailout expires on Feb. 28.
Time was running out for a compromise deal on the Greek debt crisis between Greece and its international lenders after the ultimatum issued at the end of the latest Eurogroup meeting in Brussels on Monday evening, political analysts in Athens warned on Tuesday.
Eurozone finance ministers were unable to reach a final agreement with Greek government on the bailout program on Monday, Eurogroup president Jeroen Dijsselbloem said at a press conference.