Tweet
Leaders of the 16 eurozone nations have been discussing the details of a plan to rescue debt-ridden Greece.They have been trying to finalise the interest rate - to be lower than the current market rate - at which to lend money to Greece if loans are requested.
This would stop Greece having to rely on raising funds in financial markets.
Greece has to find around 11.5bn euros (£10bn; $15.5bn) by next month to meet its financial obligations. Its total debt stands at nearly 300bn euros.
An exact interest rate for Greek loans will only be finalised after Greece formally requests help, something it has not previously done.
Treasury bills
Although Greece has maintained it does not plan to turn to its eurozone partners and the IMF for any loans, investors believe it will have little choice.
The country has struggled for months to lower its borrowing costs, and the debt crisis has heightened investor fears about rising debt levels and forced down the value of the euro.
It is hoped the ministers can make a statement before financial markets open on Monday.
The following day Greece intends to auction a 1.2bn euros package of treasury bills.
Last month, the EU and IMF announced plans to provide a 22bn-euro (£20bn; $29.5bn) safety net that could be drawn on should Greece be unable to raise the funds it needs to pay off its debts.
The cost of borrowing on the financial markets for the Greek government has been rising, reaching record levels of 7.5% on Thursday.
Credit rating
Leading ratings agency Fitch had downgraded Greek government debt on Friday.
Fitch downgraded Greece's credit rating by two notches, from BBB+ to BBB-, amid growing fears the country will not be able to resolve its debt problems without help.
The BBB- rating is significant, as this is the lowest rating that qualifies as an investment grade bond. Any further downgrade would mean Greece losing its investment grade status with Fitch.
If the two other major credit rating agencies, Standard & Poor's and Moody's, were to follow Fitch's lead, then a lot of big institutional fund managers, such as pension funds, would not be allowed to invest in Greek debt.
Greece is currently rated BBB+ by Standard & Poor's and A2 by Moody's.This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.