ANKARA
The Greek government failed to reach agreement with its European creditors on Friday, Eurogroup chief Jeroen Dijsselbloem has said.
Dijsselbloem said that a comprehensive Greek deal is needed before bailout funds could be released to ease Athens’ financial crisis.
Finance ministers from the Eurogroup of 19 EU member states were not satisfied with the economic reforms proposed by the Greek government.
However, a deal is still possible between the two parties before a May 20 deadline for achieving an deal.
Speaking to reporters, Dijsselbloem warned that time is running out, adding: "The responsibility for progress lies mainly with Greece."
The euro held at about 1.08 to the U.S. dollar after the announcement.
