A deal on how best to move forward with Greece’s debt crisis appears to be finally on the cards in Brussels tonight.

EU leaders from the 28 member states are still in talks in Brussels following the failure of Eurozone finance ministers in securing a deal on Wednesday night.

Greece and Germany are said to be discussing a deal which is likely to involve a continuation of the Greek bailout, with fewer conditions as currently imposed.

For its part, Greece will commit to a budget surplus and to fighting tax evasion; Germany is willing to loosen some of the austerity and provide financing that will support the public sector and keeps banks afloat.

Backroom negotiations have been taking place throughout the day, and will continue until another meeting of eurozone finance ministers resumes on Monday.

The EU summit is likely to wind up later tonight, when details of this agreement will likely be announced.