They did not propose a sustainable agreement, Finance Minister Yanis Varoufakis on Saturday said in a press conference after the Eurogroup meeting.
Varoufakis added that the creditors’ proposal would not pass in the Parliament adding that the government does not have a mandate to take recessionary measures.
The Greek Finance minister underlined that the rejection of Greece’s request for an extension of the programme hurts the credibility of the Eurogroup.
He also said that if convergence was achieved by Tuesday, the government would accept a deal.
Earlier on Saturday, Eurogroup President Jeroen Dijsselbloem announced that the eurozone Finance ministers decided not to give an extension to the Greek programme after June 30.