Germany expects no decision on Greece at Eurogroup

Germany expects the Eurogroup to take no decision on a Greek bailout and accompanying bond swap at a meeting later on Thursday, a government official said, as the ground had not yet been laid for a deal.

“There will be no decision because there is no basis for it yet,» the official said, speaking on condition of anonymity.

Greek leaders failed earlier on Thursday to agree on reforms and austerity measures, the price of a bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to Brussels with an incomplete deal.

Eurogroup chief Jean-Claude Juncker has called a meeting of the bloc’s finance ministers in Brussels on Thursday night, which International Monetary Fund managing director Christine Lagarde will also attend.