Eurogroup ministers gather for talks with dim hopes for Greece deal

Finance ministers of euro zone countries gathered here Thursday amid dimming hope to clinch a deal for Greece to avoid a default and Grexit.

"The chance is very small," Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem said on Wednesday in Dutch Parliament.

It is unlikely that euro zone finance ministers can take decisions on Thursday during their meeting in Luxemburg as Greek proposals have not arrived yet, according to Dijsselbloem.

The Greek government has for months been negotiating with its international lenders over a reform-for-cash deal but so far without results.

In return for more funding, creditors want further reforms from Greece. The two sides are locked in a standoff on reform issues such as pensions and taxes.

However, he emphasized that a possible agreement should be tested before the end of this month.

"The aim is still to reach an agreement and to keep Greece in the euro zone," Dijsselbloem added.

Similar doubt was cast by Greek Finance Minister Yanis Varoufakis. He said an immediate solution was unlikely on the eve of the crucial meeting with his peers.

Asked if there could be an agreement at the meeting of euro zone finance ministers, he said: "I don't think so."

On June 30, the extension of Greece's second bailout expires. Without a deal by then, Athens has warned that it may not cover a 1.5 billion euro (1.71 billion U.S. dollars) loan installment payment to the IMF.

"Failure to reach an agreement would mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and -- most likely -- from the European Union," the Central Bank of Greece warned on Wednesday.

With the fear of a possible impending default, Greek citizens held anti-austerity pro-government demonstrations in Athens and other major cities across the country, just a few hours before the Eurogroup meeting.

On Thursday, another rally organized was under the slogan "We stay in Europe" in support of Greece remaining in the euro zone.

Seven out of 10 Greeks chose to stay in the European common currency zone at any cost, according to a survey released this week. Endit