Eurozone finance ministers are meeting in Brussels to discuss whether to release new funds to indebted Greece. Athens hopes it has done enough to secure the next installment of bailout money, after passing a budget for 2013 which involves large spending cuts, Eurogroup chief Jean-Claude Juncker says there will be "no definitive decision" on Monday on the funds. Greek PM Antonis Samaras earlier warned that without the new loan, Athens would run out of money within days.
Greece faces a repayment deadline for 5bn euros of debt on Friday.
However, German Finance Minister Wolfgang Schaeuble has indicated it is unlikely that the eurozone ministers will decide on the disbursement at Monday's meeting.
The funding will have to be approved first by some parliaments, including Germany's.
"We all... want to help Greece, but we won't be put under pressure," Mr Schaeuble told the weekly newspaper Welt am Sonntag.
On Tuesday, Greece is to make an urgent bid to raise funds from the financial markets in case it does not get the tranche of bailout money.THIS WILL BE THE FIRST TRUE AUSTERITY IN THE EUROZONE.
THE MINISTERS OF THE EU - NONE ELECTED BY GREEKS - MIGHT APPROVE, THOUGH NOT TODAY. HENCE, WE MUST WATCH TOMORROW'S MARKETS.
IF GREECE IS ABLE TO RAISE MONEY - NOT LIKELY, (AT LEAST NOT AT A SUSTAINABLE RATE) - THEN THERE MIGHT BE AN E.U. DEAL, BUT IT STILL MUST BE APPROVED BY THE OTHER PARLIAMENTS IN EUROPE. THIS WILL TAKE SEVERAL DAYS IF NOT WEEKS.
AUSTERITY IS GOOD ECONOMICS BUT WHEN IMPOSED BY FOREIGNERS, IT IS AWFUL CIVICS: IT IS TOTALLY UNDEMOCRATIC.
FRIDAY IS D-DAY.
STAY TUNED...
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