The EU's 28 member states will hold a decisive summit on the Greek debt crisis Sunday, Italian Prime Minister Matteo Renzi said after an emergency eurozone leaders meeting finished without a deal.

"I hope and believe a definitive solution for Greece will be possible on Sunday," Renzi told reporters after meeting with his 18 counterparts in the eurozone to discuss next steps after Greece rejected further austerity in a referendum.

"Tonight the decision is that we wait until Sunday for the new proposal to the European institutions by the Greek government," he said.

"Now we must absolutely conclude the situation in Greece is a priority for us."

German Chancellor Angela Merkel also said after the summit that Greece needs a debt programme lasting "several years".
Source: AFP