Talks between Greece and its eurozone creditors have broken down without even agreement on a way forward as the country seeks to ditch its bailout deal.
Following a seven-hour emergency meeting in Brussels, the two sides failed to issue a statement as the new Greek government made its case - blaming the terms of the €240bn rescue deal for exacerbating the country's economic problems.
A draft statement, which reportedly spoke of "extending" its current bailout agreement as a "bridge" to a new package, was rejected by Athens, according to the Reuters news agency.
The finance ministers of the 19 nations which use the single currency next plan to meet again on Monday, when pressure for progress will intensify as the clock ticks towards the end of the month when the current funding arrangements expires.
Jeroen Dijsselbloem, the head of the eurogroup of finance ministers, said there was no discussion on detailed proposals and there was not enough common ground to chart the road to the next meeting.
He added: "We explored a number of issues, one of which was the current programme.
"We discussed the possibility of an extension. For some that is (clearly the) preferred option but we haven't come to that conclusion as yet. We will need a little more time."
Germany - the largest creditor of the Greek economy - has pushed hard for the current bailout arrangements to continue for fear of sending a signal to other nations that budgetary responsibility can be eased.
Greece has refused to accept the current terms of its bailout.
Its own so-called bridge agreement proposals include Greece tapping the European Central Bank (ECB) for €1.9bn in profits made from Greek state bonds and the issuance of up to €8bn in short-term debt to meet its immediate financing needs.
Athens has also promised a 10-point plan which will include renewed efforts to tackle tax evasion and corruption but also promote employment.
One condition of its EU-International Monetary Fund rescue was delivering a primary budget surplus of 3% in 2015 before debt repayments.
The new government has argued such targets - achieved through tax hikes and wage cuts - make an economic recovery impossible and it is pushing to halve that figure to 1.5%, a result it delivered in 2014.
Greek finance minister, Yanis Varoufakis, laid out hope that progress could be made at Monday's meeting following the breakdown of Wednesday night's talks.
"We had a very constructive and extensive discussion of all the facets of the Greek crisis and the way in which the eurogroup can facilitate the transition to a new phase in the history of the Greek social economy so we overcome the debt deflationary crisis, the humanitarian crisis and so on," Varoufakis said.
"We understand each other much, much better now than we did this morning, so I think this is a major achievement because, you know, from understanding, the agreement follows."
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