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In the rundown to the June 30 expiry of Greece’s euro-area bailout, hopes were raised — then dashed — by Prime Minister Alexis Tsipras, who came to Brussels with a set of proposals only to push back when more cuts were demanded. With Greece’s stay in the euro at stake, negotiations have picked up in frequency as a breakthrough has proved elusive.

Euro-area leaders are convening in Brussels for a second day of talks today for a regularly-scheduled summit where Greek talks aren’t officially on the agenda. Rather than clinch the deal, EU leaders Thursday refused to discuss it in detail and only exposed the confusion and frustration at play.

French President Francois Hollande and Merkel both said it was “crucial” for finance chiefs, reconvening Saturday for their fifth session on Greece in just over a week, to finally get a deal.

A separate EU official said earlier that without…

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