Live – Greek eurozone crisis summit

Eurozone leaders are scheduled to hold an emergency summit on Monday evening to try to reach a last-ditch deal with Greece on a new bailout and to prevent it from defaulting on debts that are due at the end of next week. Athens submitted new reform proposals overnight but eurozone finance ministers said after a meeting there would not be a deal today. Markets, which rallied early on Monday on the cautious optimism, remain upbeat despite the politicians delaying the deadline.

By John Aglionby, Ferdinando Giugliano and Mark Odell