Merkel says there is still time this week to get Greece deal

MAGDEBURG, Germany - Euro zone leaders meeting in Brussels later on Monday are unlikely to be able to take a formal decision on whether to provide aid to Greece but there is still time this week to finalise an agreement, German Chancellor Angela Merkel said.

"There are still a lot of days in the week in which decisions can be taken," Merkel said, speaking to reporters in the eastern city of Magdeburg.

She noted that without an agreement between Greece and the so-called institutions - the European Commmission, European Central Bank and International Monetary Fund - the summit on Monday evening could not be more than a discussion forum.