German Chancellor Angela Merkel and other senior European Union (EU) officials last night called on Greece to shelve plans to quit the single currency and urged it to see out its austerity programme.
Following talks between European Union (EU) leaders on Wednesday night, Merkel said: "We want Greece to stay in the euro, but we insist that Greece sticks to commitments that it has agreed to."
European Council President Herman Van Rompuy added: "We want Greece to remain in the euro area while respecting its commitments.
"We are fully aware of the significant efforts already made by the Greek citizens.
"The eurozone has shown considerable solidarity having already disbursed, together with the IMF (International Monetary Fund) nearly 150bn euros in support of Greece since 2010."
Concerns over a Greek exit from the eurozone have weighed heavily on markets in recent week.
Major indices across Europe were markedly lower on Wednesday ahead of the summit of EU leaders.
London's FTSE 100, the German Dax and the French Cac 40 all closed at least 2.3% lower. The FTSE will open this morning at 5,266.
A report on Reuters suggests contingency plans for a Greek exit from the EU were agreed on Monday by members of the Euro Working Group.
The report stated the Greek finance ministry had denied an agreement was in place, but Belgian finance minister Steven Vanackere, said: "All the contingency plans (for Greece) come back to the same thing: to be responsible as a government is to foresee even what you hope to avoid."
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000
Two roles created