It's another key week for Greece, with euro zone finance ministers meeting in Latvia on Friday. Athens has yet to produce a program of reforms that its creditors believe is sufficient to unlock a new tranche of aid, which is vital to prevent a Greek debt default.
Since 2010, Greece has received two financial aid packages worth some 240 billion euros ($258 billion), overseen by the European Union (EU), International Monetary Fund and European Central Bank (ECB).
The bailouts have proved controversial in some euro zone member states such as Germany and Finland.
Voters in Finland, for instance, are concerned about its own weak economy, which has been stuck in recession for three years, hurt by weakness at major employer Nokia and high labour costs.
Further financial aid to Greece could face opposition in the Finish parliament, analysts said.
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"With EU and ECB officials no longer afraid to openly discuss the ramifications and consequences of a Greek default, and the prospect of a deal at this week's EU finance ministers meeting disappearing off into the distance, the odds are rising that we could well see a Greece default sometime in the next few weeks," Michael Hewson, chief market analyst at CMC Markets, said in a note.
"These concerns are only likely to increase given the weekend elections in Finland which look likely to deliver a government unsympathetic to granting further money for Greece. This would make it extremely difficult to sign off on any new bailout, even if Greece were to ask for one."
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