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"Today's meeting of the Eurogroup will be hard. There is reason for some optimism, but as you understand, it is still very difficult. I hope to tell you the outcome in a couple of hours’ time," president of the council of finance ministers of euro zone member states Jeroen Dijsselbloem told the media.

Indicative of the intensive negotiations that are underway is the fact that he made his statement an hour later than he had announced on Twitter.

For his part, Greek Finance Minister Yanis Varoufakis said, "I hope we will come to an agreement. I am sure we will have a collegial conversation today and hope that white smoke will come out in the end."

His German counterpart Wolfgang Schaeuble stressed that the Greek side should take seriously into account the previous agreements, adding that the meeting should seek solutions to keep the confidence in the Euro. "This affects not just one country but the whole of Europe," he said.
 
According to the Greek media, Jeroen Dijsselbloem, Christine Lagarde and Pierre Moscovici had spoken separately with Varoufakis and Schaeuble before the meeting to seek points of convergence. In statements to the media in Brussels, the Commissioner for Monetary Affairs determined the expected agreement as "necessary and achievable." Pierre Moscovici noted that all the parties want Greece to remain in the euro zone.