International creditors have sent the Greek Prime Minister home from a summit in Brussels with a message to 'be more realistic' over its debts.

Alexis Tsipras has been told to tone down demands in the bailout talks over the next week or face financial ruin.

The International Monetary Fund has even recalled its negotiators back to Washington, saying there is no sign of compromise.

Thomas Molloy is Group Business Editor with Independent Newspapers. He spoke to George on the Right Hook this evening, and explained, "everybody assumes some sort of last minute deal will be done - and I'm sure that's the way you would bet if you had to bet."

However he stressed that "there is a chance something will go wrong, and with every day that passes that chance becomes bigger. Most people say that unless a deal is reached next week, European parliaments won't have enough time to pass that deal [before] Greece has to repay a loan at the end of the month."

You can listen back to Thomas Molloy's comments on the latest developments below: