The latest speculation being touched on by the media has Spain requesting a full bailout in November.

Negotiations for the Spanish bailout would take place alongside talks on a revised loan programme for Greece and a bailout plan for Cyprus, according to Reuters.

"If I had to bet, it would rather be in November than in October, if ever. Then it would be a package - you would have Greece and Cyprus and Spain. I think not Slovenia," one senior Eurozone official was quoted saying.

"This is because the Germans and others do not want to go many times to national parliaments and have painful, tortuous debates there," he said.

Out of Toyko, International Monetary Fund (IMF) Managing Director Christine Lagarde continues to ask that Greece be given more time.

"If we put upon them obligations that they simply cannot deliver on, because it's just too hard and too much - the programme is not going to be credible. So, our position is that we would rather have a programme that is difficult but credible rather than a programme that is going to be so difficult that it is not credible. It takes time," Lagarde said in an interview with CNBC's Maria Bartiromo.

Meanwhile, Greek Prime Minister Antonis Samaras said that Greece does not want another debt haircut from the European Central Bank; it wants liquidity, Bloomberg reports.

Other European leaders have taken a more hardlined position on Greece. For instance, Swedish Finance Minister Anders Borg last week pointed to an inevitable Greek exit from the euro within six months. His Dutch counterpart, Jan Kees de Jager, meanwhile insisted that Greece take fiscal reforms immediately.

MG

Related share prices