The European Commission warned Greece on Friday that "time is running out" to pass a new austerity programme after political leaders failed to agree on measures to avert another debt debacle.
The European Union's executive arm "regrets the failure of Greek party leaders to reach consensus on economic adjustment to overcome the current debt crisis," said EU economic affairs commissioner Olli Rehn.
"We expect that the efforts towards a cross-party agreement to support the EU-IMF programme will continue. An agreement has to be found soon. Time is running out," he said in a statement.
Greece has been under pressure from the European Union and the International Monetary Fund, which approved a 110-billion-euro bailout last year, to implement new austerity measures and sell of state assets.
But the talks between the socialist government and the opposition, called by Greek President Carolos Papoulias, collapsed Friday without agreement.
"It is essential for the recovery of the Greek economy that all Greek parties, including the opposition parties, adopt a constructive attitude and support the EU-IMF programme and its implementation," Rehn said.
"The magnitude of the challenge is a test to the Greek society as a whole and therefore requires a contribution by all parties and all citizens."
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