Tsipras urges Europe to remain undivided

During a debate in the European Parliament, Greek prime minister Alexis Tsipras urged Europe to remain intact, despite his country's financial crisis.

"Let's not let Europe be divided," he said. 

Mr Tsipras has confirmed that a new set of proposals was being worked on, but did not give any details. However, he said he is "confident" that his country could meet "its obligations in the interest of Greece and the eurozone" in coming days.

Greece has until the end of Thursday to reach a deal with creditors. A full European Union summit is scheduled for Sunday.

Austerity "experiment"

The Greek prime minister was greeted by a combination of boos and cheers as he entered the European Parliament, where he criticised previous bailout proposals as an attempt to turn his country into an "austerity laboratory".

He added: "This experiment, I think all of us have to accept, has not been a success."

His appeal comes only days after the people of Greece voted to reject the latest proposals from creditors in a referendum.

"Point of no return"

While Mr Tsipras continues to remain confident about the future of Greece in the euro, other European officials are not convinced.

German foreign minister Joschka Fisher said he believes a Grexit is likely, reports the Telegraph.

In an interview, he told newspaper Die Zeit that he "could not imagine what a future of Greece in the eurozone would look like".

He also said there's no way to reach a compromise "in which no side loses face".

Mr Fisher believes that Greece should be given a "debt haircut" in exchange for structural reforms, adding that creditors need to discuss the "taboo" over commonly issued eurobonds.

He also criticised German chancellor Angela Merkel for letting things get too far. "Now we have probably reached the point of no return," he said.

Mr Fisher has called for a change of course in Europe, with a focus on a growth-oriented policy.