Europe has been on the "verge" of a deal for two weeks. However, a deal is meaningless if Germany insists on budget controls. Actually a deal now is meaningless even if Germany does back down because at some point Greek politicians will have had enough. Here are the latest stories.
Yahoo! Finance reports Greece, creditors on verge of clinching debt deal
Greeks Reject German Plan for EU Budget Commissioner
Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default.
After muddling through round after round of inconclusive talks, the negotiations are in their final phase - though it appeared unlikely that a preliminary deal would be secured in time for a European Union summit on Monday.
Greek bondholders said the two sides were finalising a deal along the lines of a proposal made by Jean-Claude Juncker, the chairman of euro zone finance ministers.
The bondholders' comments suggested creditors had accepted Juncker's demand for a coupon, or interest rate, of below 4 percent on new, longer-dated bonds that Athens will swap for existing debt.
It would be foolish to throw another 130 billion euros down the Greek rathole, but if Germany backs down it could happen.
The BBC reports Greeks reject German plan for EU budget commissioner
Greek officials have reacted angrily to a leaked German proposal for an EU budget commissioner with veto powers over Greek taxes and spending.
The Greek government said it must remain in control of its own budget.
The European Commission says it wants to reinforce its monitoring of Greek finances, but Greece should retain sovereign control.
Under the German proposal, a budget commissioner would have veto powers over Greek budgetary measures if they were not in line with targets set by international lenders.
Greece would also legally commit itself to servicing its debt, before spending any money in any other way.
"Given the disappointing compliance so far, Greece has to accept shifting budgetary sovereignty to the European level for a certain period of time," the Financial Times quotes the German plan as saying.
Under the proposals, European institutions already operating in Greece should be given "ce