"For me it is clear that Greece will not return to the financial markets in 2012," Eurogroup head Jean Claude Juncker was quoted as saying on Friday, in an interview with the German newspaper Munchner Merkur.

"Greece must accelerate towards the direction of privatisations in order to receive the third instalment as well as the next ones" he stressed.

Referring to country's fiscal debt, he said "Greece must meet its targets in 2011 from which it is only a few steps away", while he and expressed opposition to any prospect of an exit from the Εurozone.

"It would be disastrous for the country and for the Eurozone. Until proved otherwise, I will continue to insist that an exit or expulsion from the Εurozone is not a solution".

Moreover, Juncker criticised 'some attitudes' in the Eurozone who claim that the southern European countries are unreliable and untrustworthy.