Eurozone finance ministers meeting in emergency session in Brussels have failed for a second week running to reach agreement on releasing the latest tranche of bailout funds for Greece.
Despite 12 hours of talks, no conclusion was reached due to a continuing divergence of opinion between eurozone ministers and the IMF on how to manage Greece's debt level in the long term.
A further meeting has been scheduled for Monday.
The euro fell against the dollar in early trading.
At issue is how to manage Greece's debt pile in the longterm.
The IMF is adamant that the country should have lowered its debt to 120pc of its GDP within eight years, but for that to happen eurozone governments will almost certainly have to write off some the tens of billions they've already loaned to Greece.
Since that is politically a non-runner finance ministers would prefer Greece to meet the target two years later, in 2022.
To bridge the gap options are being explored, such as further lowering the interest rates Greece pays, and a scheme whereby Greece would buy back bonds held by investors at around 30% of their face value.
