Greece warns of 'very high risk of default'

Greece's finance ministers have said Athens faces a "very high risk of default".

Yannis Stournaras said his European counterparts must recognise the limits to which Greece can go in resolving its debt crisis.

It comes after Eurozone finance ministers failed to clear a €31bn aid payment yesterday.

Eurogroup head Jean-Claude Juncker said after the meeting that Greece had made much progress on its commitments to reduce debt and the public deficit, but still had some last measures to put in place.