Greek government-debt crisis

The head of eurozone finance ministers urged Greece on Monday to "stop wasting time" and buckle down to serious talks and implementation of a reform programme to secure urgently needed fresh funds from its international creditors.

The European Union?s chief executive warned Greeks yesterday not to expect the eurozone to bow to leftist Prime Minister Alexis Tsipras? demands in a growing confrontation over Athens? debt crisis.

Prime Minister Alexis Tsipras said on Monday that he is ?very optimistic? that an agreement with the eurozone can be found, starting with Wednesday?s Eurogroup.

"It's in everyone's interests to reach mutually beneficial solution,? he said after meeting Austrian Chancellor Werner Faymann in Vienna. ?That's why I am very optimistic"

Greek Finance Minister Yanis Varoufakis confirmed on Monday he would go to the Eurogroup of euro zone finance ministers with a request for a bridge agreement to tide Greece over until a new debt pact with international lenders could be sealed.

German Finance Minister Wolfgang Schaeuble suggested on Monday he was worried what the impact on financial markets would be if the new Greek leftist leader, Alexis Tsipras, carries out his threat to exit Greece's international bailout agreement.

By Nikos Chrysoloras & Marcus Bensasson

European leaders urged Greek Prime Minister Alexis Tsipras to pare back his ambitions for easing the financial pressure on his people as stocks and bonds tumbled.

British Prime Minister David Cameron chaired a contingency meeting on a possible Greek exit from the euro zone with finance ministry and Bank of England officials on Monday, his spokesman said.

Speaking to reporters, the spokesman said on the risk of financial market contagion: «It's something we want to be vigilant about».

By John Glover

Bonds of Greece?s banks extended declines, with notes of National Bank of Greece SA falling to a record, after Prime Minister Alexis Tsipras reiterated his government?s rejection of the country?s bailout program.

Prime Minister Alexis Tsipras has travelled on Monday to Vienna to meet with Austrian Chancellor Werner Faymann. The meeting was arranged at the invitation of the Austrian chancellor and is scheduled to take place at 13:00 (Athens time).

The Greek Prime Minister is expected to be briefed on the Austria's employment policy and to return to Greece on the same day.

By Isobel Finkel & Simon Kennedy

A country accounting for less than 0.4 percent of the world economy is again rattling those responsible for three-quarters of it.