A senior Eurozone official, speaking under anonymity in the regular press briefing prior to the launch of the Eurogroup called the delays in the Hellinikon project a monument to "obstructionism and mismanagement."

Set to create more than 70,000 jobs and one of the basic requirements of Greece’s bailout program, the highly anticipated multi-billion-euro Hellinikon land project on the Athenian Riviera is still in limbo after the Central Archaeological Council (KAS) postponed for a third time this month its decision on whether the site has areas of archaeological importance.

"There is absolutely no reason for delaying an investment in Hellinikon. I am absolutely certain for this. The Finance ministry and other related ministries are working hard to complete this project on time," Finance Minister Euclid Tsakalotos said on Thursday.