Eurozone finance ministers will meet later today, where it is expected they will decide on whether to extend or end Greece's bailout deal.
The newly-elected Syriza party does not want an extension – saying the terms of the bailout are crippling the Greek economy.
Dr Eoin Drea is an economist and research officer at the Martens Centre for European Studies in Brussels.
He says if no deal is struck today Greece may need to negotiate a completely new bailout.
“While it will definitely be edging that way, I think probably there's a little bit more leeway – probably to till the middle, maybe to the end of this week” he said.
“A lot will depend on optics; the Greek government are determined that they want the end of the Troika – so whether that means that the Troika will just exist under a different name still needs to be worked out” he added.
