Eurogroup meeting ends without new proposal from Greece

The finance ministers of euro zone countries didn't receive the new proposals they had expected from Greece on Tuesday, Eurogroup head Jeroen Dijsselbloem said after the crucial meeting.

"We welcomed our new Greek colleague and listened to his assessment of situation after the 'no' vote in Greece," he said in a short statement, adding that there are no new proposals from new Greek Finance Minister Euclid Tsakalotos, Xinhua reported.

"The Greek government will send a new request letter for ESM support, as soon as it comes in, I hopefully in tomorrow morning we will have another conference call in the Eurogroup to formally start the process of dealing with the request," Dijsselbloem said.

He noted that the group will ask the European Union institutions to look at the financial situation in Greece, the finance need in debt stability.

"And then the institutions will come back to us, and we will see whether we can formally start the negotiations," he said.

Earlier on Tuesday, Eurogroup President Jeroen Dijsselbloem said that the Greek proposals needed to be "credible" to seek a way out.

"Given the situation after the 'No' vote in Greece, we need to hear from the Greek government first, how they seek a way out, how they think we can come to an agreement, so I am going to listen to my new Greek colleague first," Dijsselbloem told reporters before meetings of euro finance ministers and leaders.

"The Greek government has to indicate how they can agree with their creditors," German Finance Minister Wolfgang Schaeuble said before the Eurogroup meeting.