Brussels: German finance minister Wolfgang Schaeuble raised the prospect Monday of Greece holding a referendum on its EU-IMF bailout, saying it could finally resolve the drawn-out crisis.
Schaeuble`s comments came ahead of the latest meeting of eurozone finance ministers aimed at thrashing out a deal with Greece`s new leftist government.
"If the Greek government thinks it should have a referendum, then it should organize a referendum," Schaeuble told reporters in Brussels.
"Maybe this would be the right measure to let the Greek people decide if it is ready to accept what is necessary -- or if they want to have the other thing."
European Parliament President Martin Schulz however said that the issue of a Greek referendum was "a question on which the Greeks have to discuss on their own."
Led by Germany, Greece`s creditors want rigorous reforms from Athens but Prime Minister Alexis Tsipras`s radical government has so far refused to deliver.
Tsipras` government, led by the radical Syriza party, has previously warned of the possibility of a referendum to seek approval for its tough stance.
Schaeuble ruled out any deal at Monday`s Eurogroup -- the meeting of the 19 eurozone finance ministers.
"Unfortunately there is not sufficient progress to reach a decision today, whatever it is," he said.
"We want to help Greece but Greece has to do its part."