Greece is in talks with its international creditors -- euro zone governments and the International Monetary Fund -- on a package of reforms that would help unlock more funding to prevent the cash-strapped country defaulting.
Greece can scrape together enough cash to meet its payment obligations until June, euro zone and Greek officials said on Wednesday, playing down fears of an imminent default as hopes receded of a deal with its creditors to release fresh aid.
Greece will not present a list of economic reforms to euro zone finance ministers on Friday, a senior EU official said, adding the country should be able to stay solvent until June.
European stocks fell on Wednesday, failing to extend an overnight rally in Asia as investors looked to Greece's debt crisis and lurch towards possible default as an excuse to cash in gains chalked up earlier in the week.
Euro zone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior euro zone official said on Tuesday.
World stocks climbed back toward all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default.
Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece.
Wall Street ended sharply higher on Monday after China moved to stimulate its slowing economy while investors bought up technology stocks on cautious optimism on upcoming earnings reports.
Greece's Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect.
The United States on Friday pressed the world's leading exporters, including Germany and Japan, to generate more economic growth within their borders, warning that the world could not rely too much on U.S. consumers.
German Finance Minister Wolfgang Schaeuble said on Saturday he was happy over a report that Greece was poised to sign a gas deal with Russia, though he added it would not solve the cash-strapped euro zone nation's economic problems.
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers.
Greece will need to tap all the remaining cash reserves across its public sector -- a total of 2 billion euros ($2.16 billion) -- to pay civil service wages and pensions at the end of the month, according to finance ministry officials.
Global equities were set for their third straight weekly gain on Friday, hovering near fresh all-time highs as cheap central bank cash kept buoying markets and offset fears that Greece may run out of money as debt repayments loom.
Germany's finance minister said on Wednesday there was no prospect of the euro zone reaching a deal with Athens next week on economic reforms that would unlock bailout funds, potentially leaving Greece perilously short of money.
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