Eurozone finance ministers are to hold a conference call this afternoon to consider a move which may end the Greek debt crisis.

After missing an IMF repayment due last night, the Greek government has applied for a third bailout programme - but is prepared to accept many of the terms and conditions demanded by the EU.

The Taoiseach says he hopes a deal can be reached - but other ministers may stand in the way.

Germany says there's question marks over whether Greece can be trusted to implement a bailout programme it's encouraging its voters to reject.

It's also not clear how the referendum planned for Sunday could impact the proposed third programme, and it's reported in Greece this afternoon that prime minister Alexis Tsipras will make a nationalised address - in which the referendum could be cancelled.

Our political correspondent Gavan Reilly filed this report for Today FM's National Lunchtime News: