Greece wants to continue debt talks based on its proposals

Greece wants to continue negotiations for a cash-for-reforms deal with its creditors based on the proposals it has submitted, which the government believes are the best basis for talks, a Greek government official said on Saturday.

Greek Prime Minister Alexis Tsipras has called a referendum on austerity demands from foreign creditors, rejecting an "ultimatum" from lenders and putting a deal that could determine Greece's future in Europe to a popular vote.

The surprise move prompted Germany's finance minister to say that Greece had effectively ended negotiations and that there was no basis for further discussions with Athens.