Greece on Tuesday added its name to a roster that includes some of the world’s poorest and worst governed nations, including Iraq, Sudan, Somalia and Zimbabwe, the International New York Times DealBook blog reported. Those are a few of the countries that have missed payments to the International Monetary Fund — as Greece did Tuesday, when it failed to make a loan payment of about 1.5 billion euros, or $1.7 billion, to the fund. The International Monetary Fund does not use the term default. It instead places countries that miss their payments in so-called arrears.

Uncertain what might happen next, with banks and financial markets closed, across Athens people wasted little time Monday, rushing to the nearest A.T.M. to withdraw their new daily maximum of 60 euros, determined to raise every last cent while they could, the International New York Times reported. Yet, even as Greeks faced a new level of chaos and hardship this week, they were being confronted with another unsolvable riddle: a vote on their future that was even more uncertain than the current chaos. “Simply put, we’re confused,” Eleni Gardikioti, 31, an insurance worker, said.

Greece will keep its banks closed on Monday in a bid to prevent its banking system from collapsing, a bank official said, after the European Central Bank moved to cap the amount of emergency loans it provides for the country’s cash-strapped lenders, The Wall Street Journal reported. The ECB said earlier on Sunday that it wouldn’t increase the lifeline of emergency liquidity that has been sustaining Greece’s banks, even as nervous Greek depositors appeared to withdraw their money at a greater pace over the weekend.

European Central Bank policy setters are considering keeping Emergency Liquidity Assistance open to Greek banks on Monday but imposing a higher valuation discount on the security they offer in return for the funding, people familiar with the matter said, Reuters reported. If the haircut on the assets Greek banks give for Emergency Liquidity Assistance is increased, it would, however, curb their use of such finance.

European finance chiefs pushed off talks to seal a Greek bailout deal until the weekend after ending another meeting without agreement, leaving only days to keep Athens from defaulting on a loan payment early next week, The Wall Street Journal reported. The ministers from Greece and the other 18 eurozone countries cut short a crisis meeting in Brussels on Thursday to give negotiators from the Greek government and its creditors more time to bridge differences on budget cuts and other terms necessary to unlock more aid for Athens. Time is running out to resolve the standoff.

International creditors demanded politically sensitive changes to Greek prime minister Alexis Tsipras’ tax and reform proposals on Wednesday, adding fresh uncertainty to talks aimed at unlocking aid to avert a debt default next week, the Irish Times reported. Mr Tsipras spent all afternoon in a meeting with the heads of the European Commission, the International Monetary Fund, the European Central Bank and euro zone finance ministers, but officials said there was no breakthrough.

In its latest proposal to creditors, Greece calls for new corporate taxes and other revenue-raising measures. A deal would help unlock fresh aid for the strapped country, just days before it faces a crucial debt payment, the International New York Times DealBook blog reported. Although the Greek proposal drew initial support from European officials, some of the details are prompting pushback. Creditors want further pension cuts and additional changes to the value-added tax system, including better collection efforts.

Greece’s lenders on Tuesday were scrutinizing a proposal seen as a potential breakthrough on a last-minute bailout deal, but significant concerns by more demanding creditors suggest that further days of tough negotiations lie ahead before an agreement can be clinched, The Wall Street Journal reported. After months of virtual deadlock, officials emerged from a string of meetings in Brussels on Monday optimistic over a Greek concession on pensions.

Greece and its European partners appeared on Monday night to be heading for a deal by the end of the week that would secure further funding for Greece and a likely promise of more debt relief in return for changes in the pension and tax systems, European Union officials said, the International New York Times reported. Even so, there is no great confidence that a deal reached when all 28 European Union leaders have a summit meeting here Thursday and Friday will be more than a short-term easing of the Greek crisis, which has preoccupied the European Union for the last five years.

Greek banks probably will get only a short respite with the help of the European Central Bank from accelerating deposit outflows unless a deal is struck soon by politicians, Bloomberg News reported. Greeks withdrew 20 percent of deposits held with the nation’s lenders this year as concern of an exit from the euro intensified. A drip-feed of liquidity from the ECB and Greece’s central bank has kept lenders afloat. As deposit outflows accelerated, the ECB increased the ceiling of funding three times in the last seven days alone.