Greece debt talks to continue

Greece said it will present its creditors with new proposals over the weekend in an attempt to breathe life into stalled bailout discussions.

Confirmation that talks would proceed over the weekend came after European markets had closed. Fears that the two sides were as far apart as ever on such issues as pensions and the budget saw the main stock index in Athens close 5.9% lower and the Stoxx 50 index of leading European shares end down 1%.

A Greek government official indicated that a deal with creditors may be nearer than thought after Prime Minister Alexis Tsipras conferred with senior ministers.