On Thursday, Greek Prime Minister Alexis Tsipras met the president of the European Commission, Jean-Claude Juncker.
Read MoreGreece: Leaders lash out as tempers fray
Both Greece and the bodies overseeing its bailout program, the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF), have put forward proposals on reforms but both sides have found each other's suggestions inadequate with sticking points on pension reforms, tax changes and the primary budget surplus target.
Reuters cited an unnamed senior European official as saying that a deal was unlikely to be found today when Juncker and Tsipras meet but that an agreement could be reached before the Eurogroup of euro zone finance ministers meets on June 18.
These comments are not unusual and have been accompanied by European politicians urging Greece to press on with reforms before it's too late and a default really happens.
Earlier Thursday, French Finance Minister Michel Sapin said that neither Greece nor its euro zone partners could afford to see the reforms-for-aid talks fail, telling reporters in Brussels that "time is pressing" and that "no one can afford failure," Reuters reported.
Read MoreTsipras fighting fires at home andabroad
No one is sure just how much money Greece has left but without more aid it could struggle to pay back billions of euros worth of debt to creditors this summer. Greece sparked more concerns when it asked to bundle its debt repayments due to the IMF in June into one big payment on June 30.
That move prompted ratings agency Standard and Poor's to cut Greece's sovereign credit rating from CCC+ to CCC Wednesday, saying that it showed Athens was "prioritizing pension and other domestic spending over its scheduled debt service obligations." It also warned that a Greek default on its commercial debt was likely within the next 12 months.