(VOVworld) – The emergency summit of eurozone leaders has concluded with no progress as Greece’s Prime Minister Alexis Tsipras failed to make proposals as demanded.

Greece's Prime Minister Alexis Tsipras (Photo: Reuters / Francois Lenoir)

Eurozone leaders agreed to discuss a third bailout package if Greece’s new proposals are approved. After the summit, German Chancellor Angela Merkel said 28 leaders of European countries will meet in Brussels, on Sunday to discuss Greece’s debt crisis. Merkel said Greece must present details of its reform plan by Thursday, the condition for restarting negotiations on a third bailout package.

Tsipras affirmed his determination to resolve Greece’s debt crisis, but said an agreement with creditors must be socially just and economically viable, adding that negotiations on debt restructuring will be fast and conclude by the week’s end.