The Greek Prime Minister, Alexis Tsipras, is to hold fresh talks with his country's creditors as he tries to secure an urgent deal on Athens' debt, BBC News reports.

Greece must repay €1.6bn to the International Monetary Fund (IMF) by the end of the month, or face default and possible exit from the EU.

European Union leaders have broadly welcomed Greece's latest proposals for reforms - but obstacles remain.

Eurozone finance ministers are due to finalise a deal on Wednesday, June 24 evening.

The agreement being formed is believed to include: • New taxes on businesses and the wealthy • Selective increases in VAT • Savings in pensions linked to curbing early retirement and increasing pension contributions • No further reductions in pensions or public-sector wages - "red lines" for Greece's Syriza government

On Wednesday, the ECB again increased additional emergency funding for Greek banks to stave off fears of a bank run - the fifth time in eight days it has done so as fearful savers withdraw up to €1bn a day from domestic banks.

Only once agreement is reached will creditors unlock the final €7.2bn tranche of bailout funds.