Greek debt crisis: Tsipras in intensive talks with creditors

Greek Prime Minister Alexis Tsipras is continuing intensive talks with his country's international creditors, despite sharp differences over how to overcome the debt crisis.

Mr Tsipras has criticised lenders for rejecting his latest reform proposals, which they say are not viable.

Meanwhile eurozone finance ministers cut short a meeting that had been meant to finalise a deal.

Greece must pay the IMF €1.6bn in June or face default and possible EU exit.

Mr Tsipras has been meeting the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) - the trio evaluating his proposals.

They are hoping to cut a deal that would release further loans to Greece before it runs out of money.

But after several hours of talks, officials said there was little sign of a breakthrough, with differences over whether the reform plan should have an emphasis on tax rises or pension and spending cuts.

The negotiations were expected to continue into the night in the hope that a deal can be reached before the finance ministers reconvene at 13:00 local time (11:00 GMT) on Thursday, ahead of a scheduled EU summit.

Analysis: Chris Morris, BBC News, Brussels

The Greek government may think it has given significant ground in its latest proposal. The creditors appear to be saying think again.

So the mood goes from bad to good and back again. In terms of absolute numbers, the distance between the two sides isn't huge. But the political gulf is significant.

And Greek Prime Minister Alexis Tsipras is caught between a rock and a hard place - between the promises he made to his voters back home, and the commitments the creditors insist he must respect.

But these negotiations aren't just about budget targets. The Greeks are also demanding that there has to be serious discussion of debt restructuring.

On that issue there is more sympathy from the IMF. But there is less from the European Central Bank and several eurozone countries.

Between a rock and a hard place

Only once agreement is reached will creditors unlock the final €7.2bn tranche of bailout funds.

The latest Greek proposals are believed to include:

• New taxes on businesses and the wealthy

• Selective increases in VAT

• Savings in pensions linked to curbing early retirement and increasing pension contributions

• No further reductions in pensions or public-sector wages - "red lines" for Greece's Syriza government