Official: Greece Reforms Still Lack Substance

Hopes of a deal between Greece and its creditors this weekend, after months of disagreement, were dampened Thursday, after a euro zone official told CNBC Thursday that reports of an imminent deal were misplaced.

It comes after various media reports suggested that Greece and its lenders were targeting a deal over its bailout in return for aid by Sunday, prompting hopes that the long-running negotiations could be nearing a breakthrough.  But that claim was dismissed by a senior euro zone official, who told CNBC that such reports were inaccurate.

“Reports of an agreement to aim for a deal on Sunday were a misunderstanding and not accurate,” the source, who is close to the talks and did not want to be named because of their sensitive nature, said Thursday.