Economy of the European Union

Greek Finance Minister Yanis Varoufakis insisted on Monday morning that Athens is not heading for a showdown with its eurozone partners.

Group of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which looks increasingly reliant on the United States for growth. 

Kathimerini daily newspaper reports that Euroworking group chief Thomas Weiser and European Commission representative Declan Costello are visiting Athens on Monday. The two men are meeting with a government delegation two days ahead of the Eurogroup meeting.

Alan Greenspan, the former chief of the US central bank from 1987 to 2006, predicted a Grexit for Greece. Speaking with the BBC, he said that he could not see who would be willing to put up more loans to bolster Greece's struggling economy.

The EU may have warned that time is running out and that a cash crisis for Greece is looming, but the new Greek government appears steadfast in regards to its demand for a 3-month "bridge deal" until a new agreement is negotiated.

Greece said on Saturday it had no short-term cash problem and that it will hand its European Union partners a comprehensive plan next week for managing the transition to a new debt deal.

The EU has warned time is running out to avoid a financing crisis in Greece.

? pro-government rally is being organized on social media to take place at Syntagma Square on February 11, on the same date as the Eurogroup meeting.

Moody's Investors Service assigned a provisional unsecured (P)Baa2 rating to Bulgaria's EUR 8 B Global Medium Term Note (GMTN) programme on Friday.

The rating reflects the country's weak economic growth outlook in an environment of moderate credit expansion and persistent unemployment.

Late Friday, Eurogroup President Jeroen Dijssenbloem announced that Athens has till February 16 to make decisions.

By Nikos Roussanoglou

Investors are still drawn to the Greek property market despite the continued uncertainty, which may increase risk but also keeps prices low, experts say.