The Latest: Tsipras convenes party lawmakers to discuss reform package sent to creditors

Associated Press

The latest from Greece's financial crisis (all times local):

10:25 a.m.

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Greek Prime Minister Alexis Tsipras is convening his Syriza party lawmakers to discuss the reform proposals his government sent to creditors late Thursday night in an effort to reach a deal on a third bailout.

The meeting comes before a parliamentary session where, in an unusual move, the country's 300 lawmakers will be asked to authorize Tsipras and his negotiators to use the proposals as the basis for negotiations with Greece's international creditors.

Greece has requested a third bailout of 53.5 billion euros ($59 billion) and caved in to a large chunk of creditor demands for a new round of austerity measures.

In return, it hopes to get meaningful debt relief from creditors.

Hopes have grown that Greece can secure a rescue deal at a meeting of European Union leaders on Sunday in Brussels that would prevent the country's exit from the euro.