The spectre of a Greek default, which could lead to an exit from the euro, appeared possible last night, as EU ministers drew blanks from the troubled country’s latest proposals.

Bailout talks between Greece and the EU are expected to go to the wire, with leaders and analysts in Brussels last night unable to say whether a solution could be hammered out.

Another meeting of the eurogroup ministers will take place tomorrow to try to find a solution, which until last night seemed distant.

“Yes there are countries saying it’s better if Greece leaves the euro,” Prime Minister Joseph Muscat said when asked by Times of Malta, though he refused to name the countries taking this position.

“We are doing our best to keep them in the eurozone but with solidarity comes responsibility,” Dr Muscat said at the end of the first day of the European Council.

Greece needs to pay €1.6 billion to the IMF by the end of the month. Default would see it exit from the eurozone, creating a potential crisis in the bloc.

We can’t do the impossible. Time is pressing

Dr Muscat compared Greece to a patient in bed who needed a breather but did not have the money to pay up. Some countries wanted to switch off the life-support machine if payment was not made on time, while others appeared willing to give Greece the breather it demanded.

“There’s a strong resolve for Greece to remain inside the eurozone but we can’t do the impossible. Time is pressing.

“There’s clearly a lack of trust. Some leaders feel Greece is playing games. They’re playing for time and pushing things till the very end. It’s a matter of who blinks first. But eurozone members have had enough.”

Still, he said, the Maltese government will try to work towards a solution, especially to make sure it will get back the estimated €177 million it loaned to Greece.

Scicluna’s frustration

Finance Minister Edward Scicluna said Greece presented its creditors with proposals only shortly before yesterday’s euro-group meeting. Some of them appeared unrealistic considering the country’s financial dire straits.

“Today, we almost said take it or leave it. For months they came up with nothing… they had the time to do so,” he said, his tone frustrated.

“We said let’s meet on Saturday. I interpret it as the end of the line unless the issue is extended by some more weeks. But I don’t think it will happen,” he told reporters.

“We meet and nothing happens. And unlike countries like Ireland and Cyprus, trust deteriorated as we went along,” he said, adding that his views were echoed by the majority of finance ministers.

Eurogroup chairman Jeroen Dijsselbloem said the door was still open for Greece to accept the proposals of its creditors.

Only once agreement is reached will the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) unlock the final €7.2 billion tranche of bailout funds for cash-strapped Greece.

Joseph Muscat listens to David Cameron. Photo: Omar Camilleri/DOI

Cameron calls Muscat

Malta will not accept EU treaty changes by stealth, Prime Minister Joseph Muscat has told his British counterpart, David Cameron.

Mr Cameron called Dr Muscat on Wednesday night to ask for support for Britain’s plan to amend the EU treaty ahead of his pledge to hold an in/out referendum in 2017.

“We are ready to discuss flexible conditions for Britain but not changes to the EU treaty by stealth,” a spokesman for the Prime Minister said.

Mr Cameron is lobbying other EU prime ministers to try to renegotiate the EU’s migration and welfare rules.

Dr Muscat is insisting that there should be no changes on taxation and benefits unless there is agreement for treaty amendments.