Merkel, Hollande urge Tsipras to complete current bailout

Greek Prime Minister Alexis Tsipras held talks on Athens' debt crisis with German and French leaders but won little more in public than a reminder he needs to do more to secure funds urgently needed to avert bankruptcy.

"The discussions focussed on the will to reach an agreement on the current programme. They agreed on the need for the Greek authorities to continue their work with the three institutions," German and French officials said on Friday in near identical statements after more than two hours of talks that lasted well past midnight on the sidelines of an EU summit in Riga.

A Greek official, who shared the views of German Chancellor Angela Merkel and French President Francois Hollande that the meeting had been "friendly and constructive", later told reporters that they had offered Tsipras their personal help in speeding up progress towards a long-term settlement of the debt crisis.

Tsipras "talked about a long-term deal which would bring the prospect of an exit from the crisis", the official said.

"The two other leaders understood the necessity of such an agreement and they are willing to contribute personally to help speed up the process towards such an agreement."

The leaders of the euro zone's two biggest economies have insisted, however, that Tsipras and his novice, left-wing government elected in January must first conclude negotiations and come to terms with EU creditors and the IMF. In late February, they gave it four more months to meet conditions for release of a final payment under an official bailout package.

The German and French statements made no mention of long-term prospects but focussed on the immediate need to agree the kind of economic reforms, promised by Tsipras's conservative predecessors, which are a condition for the EU, European Central Bank and IMF to unlock more cash. Officials say the government could otherwise run out of money in a couple of weeks.

"We are closer to a deal," the Greek official said but added that differences remained on changes to labour, pension and value-added tax laws as well as on the fiscal surplus.

He also appeared to renew complaints that the IMF was especially hard to please. He said: "There is still a snag with the insistence the IMF must agree in order to conclude a deal."

The creditors have dismissed suggestions before that they are divided or that Athens faced less demanding terms from the EU, which is anxious to avoid undermining the euro zone.

Tsipras will meet European Commission President Jean-Claude Juncker at 2:30 pm (1130 GMT), a spokesman for the EU executive said. Juncker and the Commission, which is not a creditor, are trying to help broker a deal. That has led to some speculation, denied by the executive, that it is giving Tsipras unrealistic hopes of an alternative to satisfying his creditors.