The head of the grouping of the 19 euro countries has decided against calling for a special meeting of the countries' finance ministers on Thursday to discuss the Greek bailout due to lack of progress in talks between international creditors and the government in Athens.

The spokesman for eurogroup chief Jeroen Dijsselbloem tweeted late Tuesday "more time needed" and said a meeting on the review of the debt situation and measures to keep Greece in line on budgetary commitments would take place "at later stage."

The announcement threw cold water on weekend optimism among Greece's creditors that they were within touching distance of an agreement the cash-strapped country has to make to unlock further bailout funds and trigger debt-relief discussions.