Eurozone ministers gather in Brussels for make-or-break talks with Greece | Business | The Guardian

...the outcome of the meeting, which is due to start at 3pm (2pm GMT) on Friday, is clouded in uncertainty after Germany's finance minister, Wolfgang Schäuble, rejected a Greek compromise proposal.

Hopes of a deal have since risen, however, as it was reported that the German chancellor, Angela Merkel, was taking a more conciliatory stance. Greece's €240bn bailout - orchestrated by the EU, the European Central Bank and the International Monetary Fund - expires next Friday. Without an imminent deal the country faces the real prospect of running out of cash in early March because it is effectively locked out of the international lending markets.