Eurogroup President Jeroen Dijsselbloem said euro zone finance ministers may make a “major decision” when they hold an emergency session on Saturday to weigh a new Greek proposal for emergency funding.
Speaking ahead of a meeting with the Dutch government on Friday, Dijsselbloem declined to go into specifics of the proposal, but said the document was “a thorough piece of text.”
“Broad support in Greece gives it more credibility, but even then we need to consider carefully whether the proposal is good and if the numbers add up,” he told reporters.
“One way or the other, it is a very major decision we need to take.”
Greece’s submission will be reviewed by the European Commission, European Central Bank and the International Monetary Fund, which will assess whether Greece’s debts are sustainable.
The assessment is due to be completed before the Eurogroup meets in Brussels at 3 p.m. (1300 GMT) on Saturday to consider whether to recommend launching loan negotiations.
The ministers’ conclusions will be reviewed by euro zone leaders at a summit called for Sunday afternoon.