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The Wall Street Journal Markets

Greece Asks for Third Bailout Amid Last-Minute Diplomatic Push

Greece made a request for a third bailout amid a last-minute diplomatic push to seal some kind of agreement before the country's current rescue deal expires and it defaults on a payment to the International Monetary Fund.

The Greek government submitted a proposal for a two-year agreement with the eurozone bailout fund in order to cover its financing needs and restructure its debt, according to a statement issued by Prime Minister Alexis Tsipras's office.

Eurozone finance ministers will discuss the Greek request in a conference call Tuesday night, said Jeroen Dijsselbloem, the Dutch finance minister who presides over these talks.

There are big questions over how seriously the eurozone would consider Greece's request.