The head of the Eurogroup Jeroen Dijsselbloem said on Wednesday that a deal between Athens and its creditors is still possible.

"Time is running out but a deal is still possible," he noted.

Dijsselbloem also said that Greece should present alternative proposals. He added that the Eurogroup remains opposed to writing off Greek debt.

Dijsselbloem proposed to delay the election of his successor as head of the Eurogroup until July, to focus on Greece. The election is scheduled to be on Thursday.