Eurozone finance ministers agree to extend further bailout loans to Greece as well as debt relief, in what they call a "major breakthrough".
Greek Prime Minister Alexis Tsipras says it is time to end the "vicious cycle" of cuts and to start talks with the eurozone on debt relief.
The Greek parliament has backed the country's new bailout deal after all-night talks, despite a rebellion by many MPs in the governing Syriza party.
The International Monetary Fund attacks the bailout deal offered by eurozone leaders to Greece.
Eurozone leaders say they have reached an agreement over a third bailout for Greece after marathon talks.
Eurozone finance ministers are due to resume crunch talks in Brussels on a bailout deal for Greece.
Fresh Greek bailout reform proposals submitted to Eurozone partners are cheered by France and Italy, raising hopes that a last-ditch compromise could be reached to prevent a dreaded "Grexit."
The Greek government has extended bank closures and a €60 (£43; $66) daily limit on ATM withdrawals until Monday.
The eurozone has given Greece until Thursday to present new proposals to secure a deal with creditors, and has called a full EU summit for Sunday.
Greece's Prime Minister Alexis Tsipras says that the Greeks made a "brave choice" in voting to reject the terms of an international bailout.
Greece misses deadline for a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF), hours after eurozone ministers refused to extend its bailout.
German Chancellor Angela Merkel has warned that time is running out for a deal to keep Greece in the eurozone.
German parliament has voted to extend financial aid to Greece by another four months.
Greece unveils outline summary of reforms demanded by eurozone leaders in order to secure a bailout extension