Final decision on Greek bailout, debt relief not likely on Monday: Eurogroup head

A final decision on Greek bailout and debt relief is not likely at Monday's eurozone finance ministers' meeting, Eurogroup President Jeroen Dijsselbloem warned before the meeting.

Dijsselbloem told reporters that while Greek debt relief was on the meeting, "this is the first discussion. I don't expect any definite conclusions on it yet."

"We will discuss when, if and under what conditions this (debt relief) could take place," he said.

He added that ministers needed more time to consider Greece's reforms and its proposals for contingency measures.

He hoped to reach an agreement with Greece by the next scheduled Eurogroup meeting. "We will cut the knot on May 24," he said.

Eurozone finance ministers gathered to discuss Greece's debt as the country needs fresh aid from creditors to repay 300 million euros (341 million U.S. dollars) to the International Monetary Fund and 2.3 billion euros to the European Central Bank in July.

Greek legislators approved to overhaul pension and reform income tax Sunday night to meet demands from creditors, as thousands of protesters demonstrated on streets of Athens and other major cities across Greece. Endit