German Chancellor Angela Merkel says after talks with her Greek counterpart Alexis Tsipras that there is still "a whole lot left to be done" to avoid a financial meltdown in Athens.

Merkel and French President Francois Hollande spoke for some two hours with Tsipras at the Eastern Partnership summit and the German leader said Friday that "very, very intensive work is still needed."

The three met to pave the way for a special eurozone meeting of finance ministers late this month or early June.

The meeting came a day after a leading official from Tsipras' party said that Greece will not be able to repay a loan to the International Monetary Fund early next month unless a deal is reached with its creditors to unblock bailout funds.