Sunday Times correspondent Bojan Pancevski said that the meeting of the European Council on Sunday depends on the Eurogroup. He adds that the summit was originally called to prepare for a Grexit.

Another Tweet doing the rounds comes from German newspaper FAS that states that Schaeuble is proposing a temporary five-year Grexit for Greece, during which Greece will receive humanitarian aid. His proposal for a ‘timeout’ from the eurozone means Greece would leave the monetary union for at least five years in order to restructure its debt but would reamin in the EU and receive “growth-enhancing, humanitarian and technical assistance.”

Another course suggested by Schaeuble would require Greece to improve its proposals and also transfer 50-bln worth of property assets to pay off its debts though he doesn’t state exactly which assets he has in mind.

German government sources state that the idea of the temporary Grexit was agreed upon by German Chancellor Angela Merkel and Vice-Chancellor Gabriel. Here’s the suggestion-

The Greek government has denied such scenarios. European officials have also denied that there was such a suggestion made at Saturday’s Eurogroup – that’s not to say they don’t exist which must make former finance minister Yanis Varoufakis feel vindicated after his own claims that Schaeuble wanted a Grexit all along.