Jeroen Dijsselbloem

Greece has 10 days to decide on its future following two bombs that fell on its economy last week:

* Late on Wednesday: No sooner did the markets show signs of confidence that the European Central Bank yanked Greek collateral for Greek banks.

Images of Greece's new Finance Minister Yanis Varoufakis rocking through Downing Street, open-necked shirt not tucked in or grinning impishly at a press conference with stale Dutch Eurogroup President Jeroen Dijsselbloem have made international headlines. Clearly, Varoufakis style is seen as brash, bold and full of bravado.

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

Greece submitted to Eurogroup chief Jeroen Dijsselbloem Friday an outline of seven reform proposals to form the basis for discussion at Monday?s meeting of eurozone finance ministers, but the signs from Brussels are that Athens is no closer to securing the release of its next tranche of bailout funding.

Greece?s eurozone partners on Friday increased the pressure on the new government to request an extension to the country?s bailout before an emergency summit of eurozone finance ministers on Wednesday, with officials rejecting Greek proposals for a ?bridge? agreement to be put in place until the end of May so that a new arrangement can be found.

EU Commissioner Pierre Moscovisi, speaking via a "spokesman", is the latest top European leader on Friday urging Athens to seek an extension to a bailout scheme ending this month.

Euro-area governments won?t grant Greece?s request for a short-term financing agreement to keep the country afloat while it renegotiates the terms of its financial support, said Jeroen Dijsselbloem, chairman of the bloc?s finance ministers? group.

The new Greek government must present its strategy to the eurogroup on how Athens wants to deal with its debt problems, a German finance ministry spokesman said on Friday.

?It is completely open what will happen after the end of the current bailout program,? the spokesman added.

Greece will be able to reach agreement with its European partners and any turmoil poses little risk for Spain where the government is poised to raise its growth forecasts, Spanish Economy Minister Luis de Guindos said.

Despite a slight delay, a Euro working group session finally commenced in Brussels on Thursday.

According to reports, there’s a possibility of convening an extraordinary session on Greece, a day before the European Council meeting on Feb. 11.