Eurozone finance ministers are meeting in Brussels to discuss a new Greek proposal for emergency aid.
After a summit in Paris between German Chancellor Angela Merkel and French President François Hollande, the countries agreed to hold new talks with Greece, but warned a deal will not be reached quickly.
Meanwhile, Greek banks have been closed for nearly a week and are down to an estimated 500 million euros in deposits.
The European Central Bank decided Monday night to freeze liquidity assistance to Greek lenders, but raised the level of collateral needed to qualify for aid.
The move adds more pressure to achieve a rescue deal, which ING Economist Anthony Baert [PRON: "BART"] says would be the best solution for Greece.
IN:"This would"
OUT: "debt restructuring"
DUR: 28 sec
ALT: ING Economist Anthony Baert [PRON: "BART"] says that Eurozone finance ministers will have to consider whether to give the ECB a green light to continue funding Greek banks.
IN: "The greek"
OUT: "liquidity assistance"
DUR: 1:24