By Simon Miller
German and French leaders are to meet again next week as Greece threatens to leave the euro if a deal isn't reached on its debt funding.
German and France will stage yet another bilateral meeting next week amid further signs of deterioation in the eurozone.
A survey of purchasing managers showed manufacturing activity in the eurozone declined for the fifth consecutive month in December.
Meanwhile, Greek spokesman Pantelis Kapsis warned that Greece could default if there is no agreement with private bondholders before March.
In addition, if Greece fails to reach a deal on the second €130bn (£108.4bn) bailout if would have to leave the eurozone according to Kapsis.
He commented: ""The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro.The situation will be much worse."
Kapsis added: "The next three to four months are the most crucial and that is the reason this government exists."