Greece is staring down the deadline gun, at risk of defaulting on a 1.6 billion euro ($1.8 billion) debt due to the International Monetary Fund on June 30.
The Eurogroup of euro zone finance ministers will meet yet again on Saturday to discuss proposals for a cash-reforms-deal to save Greece and soothe fears of a "Grexit" from the euro zone.
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German Chancellor Angela Merkel told a news conference on Friday that time was running out and a deal was needed on Saturday.
"We are saying, not without careful thought, that this Eurogroup is of decisive importance, taking into account that time is very short and that a result must be worked on," she said, Reuters reported.
U.S. stocks traded mixed on Friday, as investors tracked the latest Greece headlines.
Elsewhere, Russia's economic contraction is steepening, data showed on Friday, with its economy shrinking by 4.9 percent year-on-year in May.