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Twitter users mock Eurogroup, fashion choices

Greek Finance minister Yanis Varoufakis shakes hands with German Finance Minister Wolfgang Schauble during the Eurogroup finance ministers meeting on February 11, 2015

A Greek bailout deal failed to materialize on Wednesday following an emergency meeting of euro zone ministers, resulting in waves of sarcasm across the social media sphere.

Late in the day, reports emerged that the cash-strapped European economy reached an agreement "in principle" to stay in the European Union's bailout scheme. Shortly thereafter, the Eurogroup announced it would be holding a press conference in Brussels, sparking widespread speculation among media outlets regarding the chances of a deal.

Journalists took to Twitter complaining of the conference's delayed start, using the hashtag #WaitingforJeroen, a reference to Eurogroup president Jeroen Dijsselbloem and the absurdist play 'Waiting for Godot.'

Frustration ballooned after Dijsselbloem said that not enough progress was made for a concrete bailout deal, contradicting earlier media reports. He said that talks would continue on Monday.

Twitter users poked fun at the inability of officials to issue a joint statement on Wednesday.

Users also joked about the Burberry scarf worn by Greek finance minister Yanis Varoufakis, which retails for nearly $500 on the luxury brand's website.

A brief online spat took place between Greece's Varoufakis and long-time euro zone watcher Peter Spiegel of the Financial Times after the latter posted a Eurogroup statement that Varoufakis allegedly agreed to.