Talks fail to reach deal to avert Greek default

Chris Woodyard | USA TODAY

The European Commission said Sunday that talks in Brussels aimed at heading off a Greek default failed to come up with a deal.

Germany, meanwhile, was taking a tougher stand Sunday against being pushed into a possible bailout of Greece as talks aimed at averting default continued.

Germany's Economy Minister Sigmar Gabriel told German public broadcaster ARD on Sunday that Europe's patience with Greece is nearing an end, the Associated Press reported.

Also, in a opinion column scheduled to be published Monday in the influential newspaper Bild, Gabriel said the possibility that Greece will leave the euro is becoming more likely.

Bloomberg News, which reported the news of the column, said it is Germany's most explicit warning yet.

"The shadow of a Greek exit from the euro zone is becoming increasingly perceptible," the column said. "Greece's game theorists are gambling the future of their country. And Europe's, too."

A delegation in Brussels met through the weekend to try to settle differences. Greece was expected to present creditors with a new proposal to try to move the talks along. But the AP reported that a deal to resolve the crisis still isn't at hand with two weeks left before the default deadline.

The AP quoted an EU Commission official, who did not want to be identified because of the sensitivity of the negotiations, said that "the talks did not succeed as there remains a significant gap between the plans of the Greek authorities and" the demands of the international creditors.