1st LD Writethru: Eurogroup meeting ends without Greek debt deal

The Eurogroup meeting on Greek debt only lasted a few hours and ended without a concrete deal on Monday, according to Eurogroup President Jeroen Dijsselbloem.

He told a press conference that the Eurogroup welcomed Greece's latest legislative move of approving an austerity package which aimed to unlock a fresh tranche of bailout loans and repay a large amount of debt to creditors due in June.

The ministers discussed the Greek debt package and the contingency mechanisms in case Greece veers off course, as well as held first-round discussions on Greek debt sustainability, Dijsselbloem told reporters.

He said Greek latest package should pave the way for the successful completion of its first bailout review. The Eurogroup's aim is to make Greek debt sustainable in the long term, he noted.

The Eurogroup hopes to reach a deal with Greece on May 24, when it holds its next scheduled meeting.

Greece's austerity reforms, which could unlock 4 billion euros (4.5 billion U.S. dollars) in savings, are under international review.

The country has to repay 300 million euros to the International Monetary Fund and 2.3 billion euros to the European Central Bank in June.

International creditors last year agreed to give Greece an 86 billion euro bailout loan. Endit