Greece rejects opening EU bailout offer as `absurd`

Athens: Greece rejected Monday an opening EU bailout offer as "absurd" and "unacceptable", with a government source saying that "in these circumstances there cannot be a deal today."

The source said Athens had been told to respect the existing conditions of the bailout.

"The insistence of certain people for the new Greek government to enforce the bailout is absurd and unacceptable... under these circumstances there can be no deal today," the source said.

Eurozone finance ministers were meeting in Brussels hoping to reach a compromise before Greece`s bailout expires on February 28.

Greece`s new anti-austerity government wants to ditch part of the EU-IMF bailout and is asking for temporary funding until it can introduce a new four-year reform plan.

"Carrying out the bailout programme was off the table at the summit. Those who bring this back are wasting their time," the government source said.