The head of the Eurogroup Jeroen Dijsselbloem said at the press conference after the Eurogroup meeting in Riga on Friday that "time is running out". He pointed out that Greece has to deliver a complete economic reform plan to get a new tranche of loans (€7.2 billion).

"A comprehensive and detailed list of reforms is needed," Dijsselbloem noted.

Discussions between the Greek government and its creditors will continue at the next Eurogroup meeting on May 11.