Before euro zone finance ministers' meeting loomed ominously ahead, Greece repeated on Sunday that it was confident of reaching agreement in negotiations with its euro zone partners. It went on to repeat, however, that it would not accept harsh austerity strings in any debt pact.
As Brussels moves ahead with steps to shore up Greece's dwindling finances and help keep it in the euro zone, Prime Minister Alexis Tsipras told Germany's Stern magazine that Athens needed time to implement its reforms and shake off the mismanagement of the past.
"I expect difficult negotiations; nevertheless I am full of confidence," he said. "I promise you: Greece will then, in six months' time, be a completely different country."
The Eurogroup of finance ministers meets in Brussels on Monday to try to find common ground with Tsipras' new government, elected on a pledge to scrap the austerity strictures of Greece's international bailouts, on issues such as debt management, financing, privatization and labor reform.
If the meeting produces no results, there is a concern that Greece will be headed for a credit crunch that would force it out of the euro zone. Progress, however, could mean further negotiations, perhaps later in the week.
European Central Bank President Mario Draghi refused to discuss the possibility of Greece leaving the euro zone if an agreement with European Union and International Monetary Fund lenders fell apart as a result of Greece's demands to alleviate its debt burden. He simply reiterated the euro zone's founding position that membership is "irreversible".