Greek creditors report progress in talks for new bailout

A European Commission spokeswoman, Mina Andreeva, said the lenders are hoping to finalize the 85-billion euro ($92.5 billion) agreement in time for a major Greek debt repayment in two weeks.

"We believe this is an ambitious yet possible timetable," she said. "Our teams (have been) on the ground (for) almost two weeks, and they report satisfactory progress."

Greece launches bailout talks as Plan B details revealed

But the government faced rebuke following revelations that former finance minister, Yanis Varoufakis, formed a secret committee to plan for the possible conversion of euros into drachmas "at a drop of a hat."

Finance Minister Euclid Tsakalotos said late Monday that meetings in Athens had begun between Greek officials and negotiating teams representing creditors, with talks to intensify Tuesday, paving the way for higher level discussions possibly by the end of the week.

Greece gets relief from creditors after first austerity test

Greece's fellow states in the 19-country eurozone said they were willing to open talks on a new rescue package worth 85 billion euros ($93 billion) over three years after Athens approved a series of tax hikes and economic reforms overnight.

The austerity bill triggered a revolt in the governing party and demonstrations in central Athens, one of which briefly turned violent, but was required by creditors as a precondition for starting bailout talks.

Disagreements emerge among Greece's European creditors

Facing a self-imposed Sunday deadline, the European nations using the shared euro currency were still seeking more proof from Greek Prime Minister Alexis Tsipras that he could be fully trusted to enact wide-ranging economic reforms to safeguard Greece's future in the common currency.

Greek creditors want 'more binding commitments'

The official, who spoke on condition of anonymity because he's not authorized to talk publicly, says there's a general feeling in the room that the Greek proposals are "too little, too late" and as such, more proof of the government's commitment to follow through is required.

US stocks end higher, reversing a loss from the day before

European markets closed with bigger gains on Thursday. Chinese stocks rose sharply overnight after the government's latest efforts to halt a plunge.

US stocks gain in early trading; European, China markets up

Measures taken by the Chinese government to stem the rout in that nation's stock market also appeared to be working.

KEEPING SCORE: The Standard & Poor's 500 index increased 23 points, or 1.2 percent, to 2,074. The Dow Jones industrial average rose 213 points, or 1.2 percent, to 17,727.77 as of 10:04 a.m. Eastern time. The Nasdaq composite gained 71 points, or 1.4 percent, to 4,909.

Greek business, tourism groups warn deal needed

In a joint letter to the government Wednesday, five associations urge Prime Minister Alexis Tsipras not to risk the country's place in the euro.

Greece looks to reopen bailout talks as euro future in doubt

This after Greeks resoundingly rejected the notion of more austerity in exchange for aid.

With Greek banks running out of cash and facing the danger of collapse within days without new aid, the government in Athens is racing against the clock.

In an effort to facilitate negotiations on a new aid program, Finance Minister Yanis Varoufakis, who had clashed with European officials in the bailout talks, announced his resignation Monday.

No deal for Greece, EU talks to focus on new plan

The official, who spoke only on condition of anonymity because the announcement was not official, said "clearly no agreement tonight. 

They will reconvene tomorrow to discuss a follow-up agreement."

Greece had made a last-ditch proposal before its bailout program expires at the end of the day.