Eurozone finance ministers having begun talks in Brussels hoping to agree on a second vital bailout for Greece, but haggling would go on "until the very last minute", the country's finance minister has warned.

"The Greek people send to Europe the message that they have made, and will make, the necessary sacrifices for our country to regain its position of equality within the European family," Evangelos Venizelos said in a finance ministry statement issued in Brussels on Monday.

The statement points out that Greece anticipates to see a long period of uncertainty coming to a close, "a period that benefited neither the Greek economy, nor the Euro Area overall."

"Until the very last moment, negotiations are carrying on. Technical problems are being discussed, individual parameters are being examined and preferences or priorities of institutional partners or member-states are affecting the mood of the talks.

But I believe that all those things will be finally decided based on the decision of October 26, using as high criterion the principles that underpin the European project," Minister Evangelos Venizelos concludes.

The Eurozone has made it clear it will insist on a much tighter oversight of Greece's finances as the country hopes for a EUR 130 B bailout from the EU and IMF.

Speaking after a conference call between the 17 eurozone finance ministers on Wednesday, the head of the Eurogroup Jean-Claude Juncker said greater surveillance was needed, despite hailing "substantial progress" made by Athens on austerity measures.

Juncker said more work was needed to strengthen oversight of how Greece would implement its austerity plans.

A deal on Greece's next bailout package is expected to be finalized on Monday.

Eurozone finance ministers cancelled at the last moment a meeting on the new EUR 130 B bailout package for Greece, which was due to take place on Wednesday, and replaced it by a conference call.

Analysts saw the delay as a sign of skepticism that Greece is willing or able to deliver on its promises of reform.

The latest bailout was agreed in principle by EU leaders in October, conditional on Greece adopting further measures to cut its deficit and restructure its economy.

On Sunday, Greek MPs approved extra cutbacks, but parties had to expel more than 40 deputies for failing to back the bill.

Thousands protested in Athens, where there were widespread clashes and buildings were set on fire. Violent protests were reported in cities across the country.

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