Eurozone member states are waiting for Greece’s new proposals in order to discuss a new aid programme today in Brussels.

A Eurogroup meeting has been scheduled today for 14:00 (Athens time) and an emergency eurozone summit for 19:30. German Chancellor Angela Merkel and French President Francois Hollande left the door open for negotiations at a joint press conference yesterday, urging the Greek government to promptly submit specific proposals in order to reach an agreement, while European Commission (EC) head Jean-Claude Juncker said that he was against an exit by Greece from the euro and clarified that he would urge the EC to find a solution. "My wish is that a 'Grexit' should be avoided," Juncker told the European Parliament in Strasbourg, just hours before emergency summit on the crisis.
  

Greece’s newly appointed Finance Minister Euclid Tsakalotos - who was sworn in yesterday after replacing Yanis Varoufakis - and Prime Minister Alexis Tsipras travel to Brussels today to present fresh proposals for a bailout deal.

The European Central Bank on Monday kept the Emergency Liquidity Assistance (ELA) unchanged for Greek banks at €89 billion but raised the haircut on the collateral Greek lenders offer as security for borrowing. It will review the situation at a meeting tomorrow, that is, after the completion of today’s eurozone summit.Greek banks are expected to remain closed today and tomorrow.