Greek withdrawal from the eurozone

German Chancellor Angela Merkel said on a visit to Japan on Monday that Europe faced a formidable challenge in reaching a financial aid agreement with Greece that would keep it in the euro zone.

A large majority of Greeks want Athens to reach a compromise deal with international lenders to avoid having to leave the euro zone, according to a survey published on Monday.

A leading lawmaker from Chancellor Angela Merkel's conservative bloc has described a Greek exit from the eurozone as a «great opportunity» for the country to bolster its economy, in the latest sign that German sentiment towards a so-called "Grexit" is shifting.

Germany's deputy finance minister said on Monday that he did not expect concrete dedcisions on Greece to be taken at a meeting of euro zone finance ministers later in the day because they are still waiting for more financial details on Greek reform plans.

Greece is to submit seven reforms at the Eurogroup meeting at 6 p.m. on Monday in Brussels. These reforms will provide the framework for a debate that the Greek government hopes will change the negative climate for Greece and the European Central Bank's decisions.

Greek Prime Minister Alexis Tsipras and his close associates have recently sharply criticized some EU partners and the European Central Bank (ECB) for trying to "suffocate" the Greek economy, part of efforts, they charge, to blackmail Athens into accepting a new memorandum by the EC-ECB-IMF "troika".

By Alexis Papachelas

The main opposition conservative New Democracy Political Committee met at midday on Sunday to discuss a number of issues such as the party's poor performance at the January 25 elections that marked a victory for the Radical Left Coalition (SYRIZA). Former prime minister Antonis Samaras addressed the meeting.

Finance Minister Yanis Varoufakis lobbed his latest 'bombshell' at Europe over the weekend, leaving open the possibility of a referendum in Greece if the Eurogroup on Monday rejects the latest plan submitted by the new leftist government in Athens.

German holidaymakers are increasingly flocking to Greece, leaving the acrimonious wrangling between the two capitals over Athens? debt mountain, halting reforms or fears of a ?Grexit? to the politicians.