Video Related To: Athens on alert for Merkel first visit since debt crisis

The Greek government has a "last chance" to deliver spending cuts that could secure its future, a senior finance minister has said. The country's public spending must be slashed before its creditors will release a 31bn euro (£27.3bn) rescue package to keep it afloat. But while Luxembourg's Prime Minister Jean Claude Juncker said a Greek exit from the euro would be a "disaster", he warned: "The ball is in the Greek court. "In fact, this is the last chance and Greek citizens have to know it." Mr Juncker chairs high-powered meetings of the eurozone finance ministers, which gives him significant influence. Greece has already failed to comply with the tough terms of two multi-billion euro bailouts that its European partners and the International Monetary Fund (IMF) have financed since 2010. Angela Merkel The Greek Prime Minister will pitch his plan to Angela Merkel But Athens is now proposing something different: two years of added leeway to meet its deficit targets without a fresh injection of funds from sovereign creditors. Greek Prime Minister Antonis Samaras outlined the plan to Mr Juncker during a two-hour meeting on Wednesday. He will pitch the proposal to German Chancellor Angela Merkel on Friday, and French President Francois Hollande on Saturday. Over the weekend, German officials, including finance minister Wolfgang Schaeuble, said Athens was left with limited options. "Greece cannot be helped - we can't make yet another new bailout programme. There are limits," he <b>...</b>