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Greece plays down the impasse in talks with its European creditors

  • Greece's Finance Minister Yanis Varoufakis addresses the media after a meeting of Eurogroup finance ministers at the EU Council building in Brussels on Monday, Feb. 16, 2015. Greece’s radical left government and its European creditors headed into new talks Monday on the debt-heavy country’s stuttering bailout program, but expectations are low despite a fast-approaching deadline for some kind of deal. (AP Photo/Geert Vanden Wijngaert)

    Greece's Finance Minister Yanis Varoufakis addresses the media after a meeting of Eurogroup finance ministers at the EU Council building in Brussels on Monday, Feb. 16, 2015. Greece’s radical left government and its European creditors headed into new talks Monday on the debt-heavy country’s stuttering bailout program, but expectations are low despite a fast-approaching deadline for some kind of deal. (AP Photo/Geert Vanden Wijngaert)  (The Associated Press)

  • Greece's Finance Minister Yanis Varoufakis, center, greets Dutch Finance Minister Jeroen Dijsselbloem, left, as Croatian Finance Minister Boris Lalovac looks on during a meeting of EU finance ministers at the EU Council building in Brussels Tuesday, Feb. 17, 2015. Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in the 19-nation eurozone over the country's attempt to renegotiate its financial bailout. (AP Photo/Geert Vanden Wijngaert)

    Greece's Finance Minister Yanis Varoufakis, center, greets Dutch Finance Minister Jeroen Dijsselbloem, left, as Croatian Finance Minister Boris Lalovac looks on during a meeting of EU finance ministers at the EU Council building in Brussels Tuesday, Feb. 17, 2015. Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in the 19-nation eurozone over the country's attempt to renegotiate its financial bailout. (AP Photo/Geert Vanden Wijngaert)  (The Associated Press)

  • Greece's Finance Minister Yanis Varoufakis, left, talks with Spanish Economy Minister Luis de Guindos during a meeting of EU finance ministers at the EU Council building in Brussels Tuesday, Feb. 17, 2015. Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in the 19-nation eurozone over the country's attempt to renegotiate its financial bailout. (AP Photo/Geert Vanden Wijngaert)

    Greece's Finance Minister Yanis Varoufakis, left, talks with Spanish Economy Minister Luis de Guindos during a meeting of EU finance ministers at the EU Council building in Brussels Tuesday, Feb. 17, 2015. Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in the 19-nation eurozone over the country's attempt to renegotiate its financial bailout. (AP Photo/Geert Vanden Wijngaert)  (The Associated Press)

Greek Foreign Minister Yanis Varoufakis is playing down the breakdown of talks with the country's European creditors.

Varoufakis said Tuesday that "we know in Europe how to deliberate in such a way as to create a very good solution, an honorable solution out of initial disagreement."

His comments come a day after a meeting of the 19 finance ministers of the eurozone over how to make Greece's debts sustainable broke down in seeming-acrimony after barely more than three hours.

European creditors issued Greece with an ultimatum, saying it must accept a key condition in bailout talks by Friday or face having to meet its debt commitments on its own.

Many in the financial markets think that scenario would leave Greece little option but to leave the euro.