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Eurozone official: Time running out for Greece

/ AP

RIGA, Latvia - The eurozone's top official says Greece needs to make "significantly more progress" on its reform plans if it's to get its hands on vital bailout loans.

Speaking in the Latvian capital of Riga at the conclusion of a meeting of the eurozone's 19 finance ministers, Jeroen Dijsselbloem says time is running out for Greece to secure the money to help it avoid bankruptcy.

Greece has to present a series of reforms that win the backing of its euro partners in order to get the 7.2 billion euros available in its bailout fund.

No deal has been found despite weeks of talks. Dijsellbloem said Friday there are still "wide differences" between the two sides.

First published on April 24, 2015 / 7:34 AM EDT

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