Eurozone finance ministers Friday decided to unblock the six tranche of bailout loans the debt-ridden country secured last year, in order to keep Athens afloat for just a few more months.
Senior Chinese officials said on Friday that China would not inject more capital into the EU's bailout fund before more rescue details have emerged.
The current deadlock in the Greek economy is a symptom of a deeper eurozone crisis, and a common fiscal policy is essential for the stabilization of the European Union's economy.
Europeans were waiting for a deal to tackle a worsening debt crisis on Wednesday after leaders held an one-hour work session.
Leading emerging economies such as China have reportedly agreed to help the European Union increase its bailout fund through the International Monetary Fund (IMF), said a reliable source close to EU decision-makers.
European Union leaders agreed a five-element framework of a comprehensive strategy to root out fiscal and economic woes, the details of which will be announced after an evening summit on Wednesday.
European Union leaders held two summits on Sunday in an effort to tackle the eurozone debt crisis.
Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund.
Greek unions began a 48-hour general strike on Wednesday, the biggest protest in years, as parliament prepared to vote on sweeping new austerity measures.
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