Minister for Finance Michael Noonan isn't too optimistic of a breakthrough on the Greek debt impasse at today's meeting of eurozone finance ministers in Brussels.

He says the Greek government's refusal to extend its current bailout is an obstacle for any longer term arrangement.

The Syriza-led government was in talks all weekend with members of the ECB, IMF and European Commission about agreeing a plan that satisfies its election promise to end austerity, while paying back the debts previous governments borrowed to keep banks and the public sector afloat.

If Greece agreed to a short term extension of the plan, "the road blocks would fall away, and we could get down to specifics", said the Minister ahead of the meeting.

"Nothing happened over the weekend that could be described as a breakthrough; the ball is back in the Greek court now with a request [from eurozone finance ministers] that they explain to the rest of us what exactly are they looking for".

Greece's bailout expires on the 28th February and eurozone states are deeply concerned at the turmoil that would ensue if the matter is not closed before then.

Mr Noonan said an alternative to an extension of the current bailout - worth €240 billion, would be negotiation of a new programme. This would require considerations on further funding of Greek banks, as well as legal obligations in national parliaments, where any new programme would have to be sanctioned at national level.

"I'd like if the Greek Minister were to put specific requests to the meeting today", Minister Noonan said.

"Nothing has happened that is really tangible over the discussions in the last few days. Last week Varoufakis spoke in general terms, it was the generalities that we are familiar with from the Greek election campaign", he said.

The meeting is due to last into the early hours of tonight, with strong expectation of a second, emergency meeting later this week.