Eurogroup president Jeroen Dijsselbloem urged Greece yesterday to hold elections as soon as possible to avoid delays in implementing a third bailout package.

Eurozone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior eurozone official said yesterday.

Greece is not moving fast enough to draw up and implement structural reforms and there is limited time to prevent it running out of cash, European Commission vice president Valdis Dombrovskis said yesterday.

Europe showed a willingness yesterday to give Athens more time to pay its debts, but little sign that it would yield to the new Greek government’s demands for debt forgiveness.