Greek Prime Minister George Papandreou is expected to resign his office.
The leader of the socialists Pasok party met with opposition leaders on Sunday morning to try and find an agreement on forming an interim government.
On Friday, Papandreou survived a vote of no-confidence, seemingly opening the way for the eurozone bailout package to pass through parliament.
However, on Saturday Antonis Samaras, leader of the opposition New Democracy party, said that they would not take part in a coalition and called for an immediate election.
This morning, a deal appears closer, however a condition of New Democracy support for a "unity government" appears to be the resignation of Papandreou.
This could open the way for a candidate from one of the centre left or centre right parties to take temporary leadership of the country to pass the bailout, with elections reportedly scheduled for December.
Alternatively, Evangelos Venizelos, the current finance minister, could be installed as prime minister. Ether way, Papandreou’s time at the top table of Greek politics looks certain to be over, as European leaders push for a quick solution to the political manoeuvrings in Athens.
Speaking on Sky News, Greece’s shadow Finance Minister Notis Mitarachi said:
“We want elections but realise the need for an interim government to pass the loan agreement.”
“The prime minister should resign opening the way for a new leader.”
“We will support interim government but do not want to be part of it.”