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Greece and Germany to hold key debt talks
Greek Prime Minister George Papandreou will hold talks with German Chancellor Angela Merkel later to discuss his country's progress in cutting its budget deficit, the BBC reported.
The meeting comes as policymakers decide whether to release the latest tranche of Greek bailout funds.
European leaders are trying to agree a comprehensive package to solve the eurozone debt crisis once and for all.
However, divisions remain between member states on how best to do so.
G20 leaders met over the weekend to discuss the best way forward, but EU officials stressed that no grand plan of action had been agreed.
A number of ideas were reportedly discussed, including a 50% write-down of Greece's government debts.
Other proposals included strengthening big European banks that could be hit by any defaults on national debt obligations, and boosting the size of the eurozone bailout fund.
However, late on Monday German Finance Minister Wolfgang Schaeuble cast doubt on plans to bolster the European Financial Stability Facility.
"We are giving it the tools so it can work if necessary," he said.
"Then we will use it effectively, but we do not have the intention of boosting its volume."
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Hope, they say, is the last to go, but this is VAIN hope.
