Greece has begun a second day of coalition talks under the gun from financial markets and world powers after elections won by a pro-euro party.

Eurozone ministers have told Greece they could not go ahead with an agreed deal to restructure privately held debt until it guaranteed reforms.

Finance ministers are to confer by telephone after 12 hours of talks in Athens failed to produce a breakthrough on a Greek bailout deal.

Talks appear to be stalling between EU, IMF negotiators and Greek officials.

Germany’s plan to install a commissioner in Athens with veto powers over the Greek budget has been dismissed as "laughable".

A major conservative party in Greece’s new unity government has refused to drop its opposition to signing reform pledges in return for crucial loans.

Greek Finance Minister Evangelos Venizelos has announced budget cuts totalling around €2-billion in exchange for a rescue package.

Finance Minister Evangelos Venizelos insists there is no rift with EU and IMF auditors, who say Greece failed to meet conditions to unlock funding.

Greece’s conservatives on Monday faced the tough task of tackling reforms needed to catch up with euro zone countries after winning a second mandate with only a narrow majority…