Yanis Varoufakis

Greece's ex-finance chief backs latest debt deal

The government has asked for parliament's approval to use the Greek proposals sent to creditors Thursday as the basis for negotiations with the creditors due to start Saturday. The vote is expected sometime overnight Friday.

Varoufakis tweeted that he would be spending the weekend with his daughter before she returns to Australia, where she lives. He sent parliament a letter saying he was voting in favor of the motion.

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.

Greek banking officials meet with government

A finance ministry official says the meeting is being attended by the deputy governor of the Bank of Greece and the managing directors or presidents of the country's five largest lenders: Piraeus Bank, Alpha Bank, Eurobank, Attica Bank and National Bank of Greece as well as the secretary general of the Greek banking association.

The Latest: Greek minister hints no payment Tuesday to IMF

Greek Finance Minister Yanis Varoufakis refused to reply to a direct question Sunday on the payment. Instead, he told BBC radio that the European Central Bank should pay the money to the IMF out of the profits it made on Greek bonds in 2014. Varoufakis calls that idea "a very sensible transfer."