The European Summit kicked off Friday with Greece's mounting debt and deficit problems at the head of the conference agenda.
European leaders have pressed the country to launch tough reforms without alarming financial markets.
Greece is a repeat offender under the European Union's budget rules, as borrowing costs jumped since the Socialists revealed 2009's deficit would climb to 12.7 percent of gross domestic product. The country could become the euro zone's most indebted member in terms of GDP next year.
Based on EU Commission forecasts, Greece's debt will rise to 124.9 percent of GDP next year, becoming the highest ratio in the 16-nation euro zone.