GREECE: IT'S UP TO THE EUROGROUP TO NEGOTIATE

Both Chancellor Merkel and François Hollande stress that Saturday's Eurogroup meeting will be the decisive moment in the negotiations and see no need for another eurozone leaders' summit.

The Eurogroup is a meeting of the Finance Ministers of the eurozone. It's current President is Dutch Finance Minister Jeroen Dijsselbloem. The President of the European Central Bank (Mario Draghi), the European Commissioner for Economic and Financial Affairs, Taxation and Customs (Pierre Moscovici) and the President of the Eurogroup Working Group (Thomas Wieser) attend the meetings as observers.