‘Greece should not expect debt relief any time soon’

This reportedly came out of an emergency eurozone summit this afternoon.

FILE: Banks will remain shut in Greece until Thursday while meetings are underway with creditors as the country’s banks face a potential meltdown. Picture: AFP.

JOHANNESBURG - The Greek government has reportedly been told by its eurozone partners not to expect debt relief any time soon.

This reportedly came out of an emergency eurozone summit this afternoon.

Banks will remain shut in Greece until Thursday while meetings are underway with creditors as the country's banks face a potential meltdown.

There is an ideological divide but it's not as great as one might think.

CNN's Richard Quest says, "If it is merely the same, repackaged, rehashed, rethought through ideas that they've seen before and the rest of the euro group will simply say no."

LISTEN: Is the Greek crisis a storm in a tea cup?

Meanwhile, Greek officials said on Tuesday they had submitted credit proposals to partners based on those it put forward last week, rejecting suggestions that Athens had not put forward new proposals for a euro summit.

One senior euro zone official told Reuters as euro zone finance ministers were meeting in Brussels, "They [Greek officials] say they will submit a new request and outline of proposals, maybe tomorrow."

A second euro zone official also said no formal proposal for credit had been submitted on Tuesday, adding that, "If they really plan to present something formal tomorrow, they may not find anyone to read it."

Asked about those comments, however, one Greek government official said, "Some are maintaining we don't have proposals. Is that the same as not having 47 pages which we had the Monday before last, and today?

"Is it really that we don't have proposals or is it that they don't like our proposals?"

A second Greek official said, "The Greek government came with the proposals which hadn't been discussed by the Eurogroup last week."

Creditors said on 27 June that Greece had effectively broken off talks by calling a referendum and so the Eurogroup had not formally discussed a proposal sent by Greece on 29 June.