By Jonathan Davies

European finance ministers meet in Brussels today (Monday) as reports that a deal over the re-negotiation of Greece's bailout debt is 'unlikely' intensify.

German finance minister Wolfgang Schaeuble, who has remained consistenyl sceptical about any changes to the €240bn (£178bn) bailout debt, told German radio: "From what I've heard about the technical talks over the weekend, I'm very sceptical, but we get a report today and then we'll see.

"The problem is that Greece has lived beyond its means for a long time and that nobody wants to give Greece money any more without guarantees."

Greece has proposed a new bailout programme which will allow the government to run the country for another six months whilst helping it to repay €7bn (£5.2bn) of maturing bonds.

Greece's hopes of renegotiating its huge debt has led to huge speculation that Greece could leave the eurozone, but Mr Schaeuble said he does not want the country to leave the eurozone.

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