There is a "real and present danger" Russia could repeat its covert campaigns in the Crimea and Ukraine to destablise former Soviet bloc countries, the Defence Secretary has warned.
Michael Fallon said NATO must be ready for Russian aggression against alliance members including Latvia, Lithuania and Estonia.
He warned the action could involve using irregular troops, cyber attacks and inflaming tensions with ethnic Russian minorities.
"NATO has to be ready for any kind of aggression from Russia, whatever form it takes. NATO is getting ready," he said.
Mr Fallon added that he was worried about Russian President Vladimir Putin's "pressure on the Baltics".
Earlier this month, two long-range Russian bombers flew down the English Channel off the coast of Bournemouth.
Mr Putin's behaviour is 'unacceptable', the Defence Secretary said
"It is the first time since the height of the Cold War that has happened and it just shows you the need to respond each time he does something like that," he added.
His comments come after Prime Minister David Cameron urged Europe to tell Russia it faces economic and financial consequences for "years to come" if it continues to destabilise Ukraine.
1/7
Gallery: Nov 1: RAF Redirects Russia Bombers
Typhoon fighter jets were scrambled to intercept Russian military 'Bear' bombers for the second time in a week, it has emerged (Pic: MoD)
The aircraft were were sent up from RAF Lossiemouth on Friday, 31 October, to escort the Soviet-era Tupolev Tu-95 aircraft (Pic: MoD)
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Video:Ukraine Gun Battle Caught On Camera
Sky News has obtained exclusive video of a prolonged gun battle between pro-Russian rebels and Ukrainian government troops close to the besieged eastern town of Debaltseve.
It was shot by a television crew who were with rebel forces and interviewing a prisoner of war when the sound of heavy gunfire erupts nearby.
The rebels are then filmed using assault rifles to shoot through windows before some open fire outside.
At least one fighter attacks the pro-Kiev forces with rocket propelled grenades.
The footage emerged as hundreds of Ukrainian troops pulled out from Debaltseve following battles with pro-Russian forces.
Separatist forces claim to have taken control of Debaltseve
Ukrainian president Petro Poroshenko has said his soldiers had left in a "planned and organised withdrawal" from the strategically important area.
A Russian TV station showed separatists hoisting their flag over a building as they seized the railway hub in defiance of a ceasefire brokered by France and Germany.
1/25
Gallery: Ukraine Troops Leave Debaltseve
Pro-Russian separatists take position near the eastern Ukrainian city of Uglegorsk, 6 kms southwest of Debaltseve
Pro-Russian rebels stationed in the eastern Ukrainian city of Gorlivka, Donetsk region, launch missiles from Grad launch vehicles
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Pro-Russian separatists patrol a street in the eastern Ukrainian city of Makeyevka
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Ukrainian troops pulled out of the besieged flashpoint eastern town Debaltseve after it was stormed by pro-Russian rebels in what the EU said was a "clear violation" of an internationally-backed truce
]]>
President Petro Poroshenko said 80% of units had left the town, in order to comply with the current ceasefire
]]>
Some 2,000 pro-government forces have been fighting there but Mr Poroshenko denied claims the troops were encircled, and said they were leaving with weapons and ammunition.
However, some troops were believed to be trapped in the town, which links the two rebel-controlled regions in the east of Ukraine, Donetsk and Luhansk.
Sky's Stuart Ramsay spoke to a Ukrainian commander who said there were still pro-Kiev troops inside but they had put down their weapons.
At least 22 Ukrainian troops have been killed and over 150 were wounded in the fighting in recent days.
A rebel military spokesman, Eduard Basurin, reportedly told Russian television that more than 300 Ukrainian soldiers had surrendered.
Kiev has admitted that soldiers have been taken prisoner, but has not said how many.
Journalists reported seeing dozens of tanks and vehicles carrying haggard soldiers leaving for the nearby town of Artemivsk.
Video:Ukrainian Army Leaves Debaltseve
One soldier spoke of heavy government losses, while another said they had not been able to get food or water because of the intense rebel shelling.
President Poroshenko went to the front line at Artemivsk to meet soldiers after he ordered the Debaltseve withdrawal.
Praising Ukrainian forces for "really socking it" to the separatists, he said he was going there "for the great honour of shaking hands with our heroes".
The 10-month conflict has left more than 5,000 people dead, and Ukraine accuses Russia of supporting and arming the rebels, a claim Moscow denies.
On Tuesday, Russian President Vladimir Putin called on Ukraine to admit defeat in Debaltseve, saying "the only choice" of the troops was to "leave behind weaponry, lay down arms and surrender."
Separatists have reportedly started to withdraw heavy weapons from areas they control in eastern Ukraine where the ceasefire was holding.
The rebels say the agreement negotiated by Ukraine, Russia, Germany and France last week does not apply to Debaltseve.
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Exclusive: Ukraine Firefight Caught On Video
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Video:Ukraine Gun Battle Caught On Camera
Sky News has obtained exclusive video of a prolonged gun battle between pro-Russian rebels and Ukrainian government troops close to the besieged eastern town of Debaltseve.
It was shot by a television crew who were with rebel forces and interviewing a prisoner of war when the sound of heavy gunfire erupts nearby.
The rebels are then filmed using assault rifles to shoot through windows before some open fire outside.
At least one fighter attacks the pro-Kiev forces with rocket propelled grenades.
The footage emerged as hundreds of Ukrainian troops pulled out from Debaltseve following battles with pro-Russian forces.
Separatist forces claim to have taken control of Debaltseve
Ukrainian president Petro Poroshenko has said his soldiers had left in a "planned and organised withdrawal" from the strategically important area.
A Russian TV station showed separatists hoisting their flag over a building as they seized the railway hub in defiance of a ceasefire brokered by France and Germany.
1/25
Gallery: Ukraine Troops Leave Debaltseve
Pro-Russian separatists take position near the eastern Ukrainian city of Uglegorsk, 6 kms southwest of Debaltseve
Pro-Russian rebels stationed in the eastern Ukrainian city of Gorlivka, Donetsk region, launch missiles from Grad launch vehicles
]]>
Pro-Russian separatists patrol a street in the eastern Ukrainian city of Makeyevka
]]>
Ukrainian troops pulled out of the besieged flashpoint eastern town Debaltseve after it was stormed by pro-Russian rebels in what the EU said was a "clear violation" of an internationally-backed truce
]]>
President Petro Poroshenko said 80% of units had left the town, in order to comply with the current ceasefire
]]>
Some 2,000 pro-government forces have been fighting there but Mr Poroshenko denied claims the troops were encircled, and said they were leaving with weapons and ammunition.
However, some troops were believed to be trapped in the town, which links the two rebel-controlled regions in the east of Ukraine, Donetsk and Luhansk.
Sky's Stuart Ramsay spoke to a Ukrainian commander who said there were still pro-Kiev troops inside but they had put down their weapons.
At least 22 Ukrainian troops have been killed and over 150 were wounded in the fighting in recent days.
A rebel military spokesman, Eduard Basurin, reportedly told Russian television that more than 300 Ukrainian soldiers had surrendered.
Kiev has admitted that soldiers have been taken prisoner, but has not said how many.
Journalists reported seeing dozens of tanks and vehicles carrying haggard soldiers leaving for the nearby town of Artemivsk.
Video:Ukrainian Army Leaves Debaltseve
One soldier spoke of heavy government losses, while another said they had not been able to get food or water because of the intense rebel shelling.
President Poroshenko went to the front line at Artemivsk to meet soldiers after he ordered the Debaltseve withdrawal.
Praising Ukrainian forces for "really socking it" to the separatists, he said he was going there "for the great honour of shaking hands with our heroes".
The 10-month conflict has left more than 5,000 people dead, and Ukraine accuses Russia of supporting and arming the rebels, a claim Moscow denies.
On Tuesday, Russian President Vladimir Putin called on Ukraine to admit defeat in Debaltseve, saying "the only choice" of the troops was to "leave behind weaponry, lay down arms and surrender."
Separatists have reportedly started to withdraw heavy weapons from areas they control in eastern Ukraine where the ceasefire was holding.
The rebels say the agreement negotiated by Ukraine, Russia, Germany and France last week does not apply to Debaltseve.
Written By Unknown on Rabu, 18 Februari 2015 | 16.15
Why Ukrainian Town Is So Crucial In Conflict
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Video:Fighting Goes On Despite Ceasefire
The capture of the Ukrainian town Debaltseve would represent a critical prize for the pro-Russian fighters.
The town of just over 25,000 people is a communications hub with a railway junction connecting the rebel strongholds of Donetsk and Luhansk.
Everything going in and out of the region passes through Debaltseve.
Take it, and the separatists have a supply route to and from their key strongholds for food, fuel and ammunition.
So while the ceasefire is being observed elsewhere in eastern Ukraine, fighting has intensified in Debaltseve and the surrounding area.
Rebels began their siege of the town last month.
1/23
Gallery: Debaltseve Has Become Centre Of Ukraine Conflict
Ukrainian armed forces take up positions near the eastern town of Debaltseve.
A ceasefire came into effect on Sunday, but fighting has continued in Debaltseve, where pro-Russian rebels claim to have surrounded thousands of Ukrainian fighters.
]]>
Buildings damaged by fighting are pictured in the village of Nikishine, south east of Debaltsev
]]>
A convoy of Ukrainian forces drives in the direction of the embattled town, which is a major rail and road junction northeast of the city of Donetsk.
]]>
Pro-Russian rebels stationed in the eastern Ukrainian city of Gorlivka launch missiles towards Ukrainian forces in Debaltseve last week.
]]>
Russian President Vladimir Putin reportedly sought to delay the ceasefire agreed last week to give separatists the opportunity to capture the area.
Some of the 7,000 Ukrainian troops who were trapped there have now been taken prisoner as militants took control of, they say, 80% of the town.
Both sides claim Debaltseve is on their side of the ceasefire line.
Under the agreement negotiated by the leaders of Ukraine, Russia, Germany and France, the warring sides were supposed to begin withdrawing their heavy weapons from the front line on Tuesday.
However, they have both failed to do so as the deadline passed.
"We do not have the right to stop fighting for Debaltseve," said rebel leader Denis Pushilin.
"It's even a moral thing. It's internal territory. We have to respond to fire, to work on destroying the enemy's fighting positions."
Video:Mortar Fire Explodes Gas Pipeline
According to the 2001 census, some 80% of the population in Debaltseve are native Russian speakers, while 16% speak Ukrainian.
Many residents have fled - but an estimated 5,000 remain.
"The situation in Debaltseve is catastrophic," Joanne Mariner, a senior crisis response adviser at Amnesty International, told the Kyiv Post.
"I have spoken to many elderly people who are confined to their basements, living in extremely dire, overcrowded conditions, in absolute fear.
"Many told me how they felt completely lost, not knowing what to do. Shelling is constant.
"These people are at the mercy of forces they have absolutely no control over."
Monitors with the Organisation for Security and Co-operation in Europe have tried to enter the town but have reportedly been denied access by the separatists.
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Why Ukrainian Town Is So Crucial In Conflict
We use cookies to give you the best experience. If you do nothing we'll assume that it's ok.
Video:Fighting Goes On Despite Ceasefire
The capture of the Ukrainian town Debaltseve would represent a critical prize for the pro-Russian fighters.
The town of just over 25,000 people is a communications hub with a railway junction connecting the rebel strongholds of Donetsk and Luhansk.
Everything going in and out of the region passes through Debaltseve.
Take it, and the separatists have a supply route to and from their key strongholds for food, fuel and ammunition.
So while the ceasefire is being observed elsewhere in eastern Ukraine, fighting has intensified in Debaltseve and the surrounding area.
Rebels began their siege of the town last month.
1/23
Gallery: Debaltseve Has Become Centre Of Ukraine Conflict
Ukrainian armed forces take up positions near the eastern town of Debaltseve.
A ceasefire came into effect on Sunday, but fighting has continued in Debaltseve, where pro-Russian rebels claim to have surrounded thousands of Ukrainian fighters.
]]>
Buildings damaged by fighting are pictured in the village of Nikishine, south east of Debaltsev
]]>
A convoy of Ukrainian forces drives in the direction of the embattled town, which is a major rail and road junction northeast of the city of Donetsk.
]]>
Pro-Russian rebels stationed in the eastern Ukrainian city of Gorlivka launch missiles towards Ukrainian forces in Debaltseve last week.
]]>
Russian President Vladimir Putin reportedly sought to delay the ceasefire agreed last week to give separatists the opportunity to capture the area.
Some of the 7,000 Ukrainian troops who were trapped there have now been taken prisoner as militants took control of, they say, 80% of the town.
Both sides claim Debaltseve is on their side of the ceasefire line.
Under the agreement negotiated by the leaders of Ukraine, Russia, Germany and France, the warring sides were supposed to begin withdrawing their heavy weapons from the front line on Tuesday.
However, they have both failed to do so as the deadline passed.
"We do not have the right to stop fighting for Debaltseve," said rebel leader Denis Pushilin.
"It's even a moral thing. It's internal territory. We have to respond to fire, to work on destroying the enemy's fighting positions."
Video:Mortar Fire Explodes Gas Pipeline
According to the 2001 census, some 80% of the population in Debaltseve are native Russian speakers, while 16% speak Ukrainian.
Many residents have fled - but an estimated 5,000 remain.
"The situation in Debaltseve is catastrophic," Joanne Mariner, a senior crisis response adviser at Amnesty International, told the Kyiv Post.
"I have spoken to many elderly people who are confined to their basements, living in extremely dire, overcrowded conditions, in absolute fear.
"Many told me how they felt completely lost, not knowing what to do. Shelling is constant.
"These people are at the mercy of forces they have absolutely no control over."
Monitors with the Organisation for Security and Co-operation in Europe have tried to enter the town but have reportedly been denied access by the separatists.
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Australia's Prime Minister has said the country will feel "grievously let down" if Indonesia executes two Australians on death row despite the A$1billion in help it gave following the 2004 tsunami.
Tony Abbott's comments drew an angry response from Indonesia and marked an escalation in the war of words between the two neighbours over the cases of Myuran Sukumaran, 33, and Andrew Chan, 31.
The pair are members of the so-called Bali Nine, convicted in 2005 as the ringleaders of a plot to smuggle £2m of heroin out of Indonesia. They face execution by firing squad.
Mr Abbott said he continued to make "the strongest possible personal representations" to Indonesian President Joko Widodo.
"Australia sent a billion dollars worth (£500m) of assistance," he said, referring to the aftermath of the Indian Ocean tsunami that left 220,000 people dead across 14 countries, almost 170,000 from Indonesia.
Indonesia described Mr Abbott's words as "threats"
"We sent a significant contingent of our armed forces to help in Indonesia with humanitarian relief.
"I would say to the Indonesian people and the Indonesian government: We in Australia are always there to help you and we hope that you might reciprocate in this way at this time."
1/10
Gallery: Infamous Australian Prisoners Convicted Over Drug Smuggling
The Bali Nine are a group of Australians jailed for attempting to smuggle over £2m of heroin out of Indonesia. Their sentences vary: some face life - the ringleaders face the firing squad
Named as one of the ringleaders of the heroin smuggling operation, Andrew Chan was 21 years old when he was arrested
Some Ukrainian troops are pulling out of the town of Debaltseve following fierce fighting with pro-Russian rebels, pro-government commanders have said.
The Ukrainian commander of a pro-Kiev paramilitary unit said troops were leaving the strategically important town, which links the two rebel-controlled regions in the east, in a "planned and organised" way.
Semen Semenchenko said on Facebook: "The enemy is trying to cut the roads and prevent the exit of the troops."
Another paramilitary leader, Mykola Kolesnyk, said in an interview on 112 television channel: "We have pulled out. We have saved people's lives."
Separatist forces claim to have taken control of Debaltseve
But the head of the Krivbas battalion said not all troops were pulling out.
"We are talking only about units which are surrounded in populated areas in and around the town."
Video:Fighting Goes On Despite Ceasefire
A pro-Russian rebel official cited by the separatist press service DAN said hundreds of government troops are surrendering to separatist forces in the town.
"In Debaltseve there is a massive surrender of weapons by (Ukrainian) forces. These people number in the hundreds," DAN quoted Maksim Leshchenko as saying.
Associated Press reporters on the road to the government-controlled town of Artemivsk reported seeing several dozen Ukrainian troops retreating from Debaltseve on Wednesday morning.
Fighting has continued there despite a ceasefire between Ukraine government forces and rebels coming into force on Sunday.
1/23
Gallery: Debaltseve Has Become Centre Of Ukraine Conflict
Ukrainian armed forces take up positions near the eastern town of Debaltseve.
A ceasefire came into effect on Sunday, but fighting has continued in Debaltseve, where pro-Russian rebels claim to have surrounded thousands of Ukrainian fighters.
Written By Unknown on Selasa, 17 Februari 2015 | 16.15
Ukraine Truce 'Broken 139 Times' On First Day
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Video:Ceasefire 'Broken' In Mariupol
Pro-Russian rebels have launched 112 attacks on Ukrainian troops, killing five, in the 24 hours since a ceasefire came into effect, Kiev has claimed.
Rebel commander Eduard Basurin issued a counter-claim that Ukraine had violated the truce 27 times.
Both sides are due to withdraw heavy artillery from the frontline on Tuesday under the terms of the ceasefire - but whether this will happen is now in doubt.
"Five Ukrainian troops were killed and 25 wounded in the past 24 hours," said Ukrainian military spokesman Andriy Lysenko.
"112 incidents of shelling is not a ceasefire. So we are not ready yet to withdraw."
One the rebel leaders, Denis Pushilin, responded by saying his forces were "only ready for a mutual withdrawal of equipment".
The fighting has centred on the eastern town of Debaltseve, where up to 7,000 Ukrainian troops are trapped by a circle of separatist militants.
Fighting has continued around Debaltseve in the country's east
Rebels have offered a safe corridor out, with commander Eduard Basurin saying: "We suggest that the Ukrainian soldiers in Debaltseve stay alive.
"There is just one condition: that they lay down their weapons. We didn't talk about them becoming prisoners. Lay down your weapons and get out of here."
1/16
Gallery: Ukraine Truce Holds But Sporadic Clashes Continue
Pro-Russian separatists drive a tank through Donetsk. Most of the frontline has fallen silent, but a Kiev source said four Ukrainian soldiers had been killed since the ceasefire started on Sunday.
Two members of the armed forces from the self-proclaimed Donetsk People's Republic stand guard at a checkpoint near the town.
]]>
Another member of the Donetsk People's Republic checks on a kettle as the ceasefire holds across large swathes of eastern Ukraine.
]]>
Meanwhile, on a road leading to the contested town of Debaltseve - which has continued to see some unrest - two Ukrainian soldiers play football during the ceasefire.
]]>
Other members of the Ukrainian armed forces take a cigarette break near Debaltseve.
]]>
Kiev immediately dismissed the offer.
"There are the Minsk agreements, according to which Debaltseve is ours. We will not leave," said military spokesman Vladislav Seleznyov.
Fighting has subsided in parts of eastern Ukraine since the truce negotiated by France, Germany, Russia and Ukraine came into effect on Sunday morning.
However, a militia with links to the Ukrainian government has released footage of what it says are further breaches in Mariupol.
"The situation is fragile," said German Chancellor Angela Merkel.
"It was always clear that much remains to be done. And I have always said that there are no guarantees that what we are trying to do succeeds. It will be an extremely difficult path."
Mrs Merkel spoke with French President Francois Hollande and Ukrainian President Petro Poroshenko on the phone on Monday, and the three expressed "concern" over the situation in Debaltseve.
Meanwhile, Moscow said the EU had "contradicted common sense" by implementing fresh sanctions on 19 individuals and nine organisations for undermining Ukraine's independence.
The list includes Russian first deputy defence minister Arkady Bakhin.
Veteran singer Iosif Kobzon, who voiced support for Russia's annexation of Crimea, has also been hit by asset freezes and travel bans that were agreed prior to the ceasefire deal.
The 10-month conflict has already claimed more than 5,300 lives.
The West says Russian President Vladimir Putin, who has called parts of Ukraine "New Russia", has sent troops and weapons to back the rebels - a charge denied by Moscow.
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Ukraine Truce 'Broken 139 Times' On First Day
We use cookies to give you the best experience. If you do nothing we'll assume that it's ok.
Video:Ceasefire 'Broken' In Mariupol
Pro-Russian rebels have launched 112 attacks on Ukrainian troops, killing five, in the 24 hours since a ceasefire came into effect, Kiev has claimed.
Rebel commander Eduard Basurin issued a counter-claim that Ukraine had violated the truce 27 times.
Both sides are due to withdraw heavy artillery from the frontline on Tuesday under the terms of the ceasefire - but whether this will happen is now in doubt.
"Five Ukrainian troops were killed and 25 wounded in the past 24 hours," said Ukrainian military spokesman Andriy Lysenko.
"112 incidents of shelling is not a ceasefire. So we are not ready yet to withdraw."
One the rebel leaders, Denis Pushilin, responded by saying his forces were "only ready for a mutual withdrawal of equipment".
The fighting has centred on the eastern town of Debaltseve, where up to 7,000 Ukrainian troops are trapped by a circle of separatist militants.
Fighting has continued around Debaltseve in the country's east
Rebels have offered a safe corridor out, with commander Eduard Basurin saying: "We suggest that the Ukrainian soldiers in Debaltseve stay alive.
"There is just one condition: that they lay down their weapons. We didn't talk about them becoming prisoners. Lay down your weapons and get out of here."
1/16
Gallery: Ukraine Truce Holds But Sporadic Clashes Continue
Pro-Russian separatists drive a tank through Donetsk. Most of the frontline has fallen silent, but a Kiev source said four Ukrainian soldiers had been killed since the ceasefire started on Sunday.
Two members of the armed forces from the self-proclaimed Donetsk People's Republic stand guard at a checkpoint near the town.
]]>
Another member of the Donetsk People's Republic checks on a kettle as the ceasefire holds across large swathes of eastern Ukraine.
]]>
Meanwhile, on a road leading to the contested town of Debaltseve - which has continued to see some unrest - two Ukrainian soldiers play football during the ceasefire.
]]>
Other members of the Ukrainian armed forces take a cigarette break near Debaltseve.
]]>
Kiev immediately dismissed the offer.
"There are the Minsk agreements, according to which Debaltseve is ours. We will not leave," said military spokesman Vladislav Seleznyov.
Fighting has subsided in parts of eastern Ukraine since the truce negotiated by France, Germany, Russia and Ukraine came into effect on Sunday morning.
However, a militia with links to the Ukrainian government has released footage of what it says are further breaches in Mariupol.
"The situation is fragile," said German Chancellor Angela Merkel.
"It was always clear that much remains to be done. And I have always said that there are no guarantees that what we are trying to do succeeds. It will be an extremely difficult path."
Mrs Merkel spoke with French President Francois Hollande and Ukrainian President Petro Poroshenko on the phone on Monday, and the three expressed "concern" over the situation in Debaltseve.
Meanwhile, Moscow said the EU had "contradicted common sense" by implementing fresh sanctions on 19 individuals and nine organisations for undermining Ukraine's independence.
The list includes Russian first deputy defence minister Arkady Bakhin.
Veteran singer Iosif Kobzon, who voiced support for Russia's annexation of Crimea, has also been hit by asset freezes and travel bans that were agreed prior to the ceasefire deal.
The 10-month conflict has already claimed more than 5,300 lives.
The West says Russian President Vladimir Putin, who has called parts of Ukraine "New Russia", has sent troops and weapons to back the rebels - a charge denied by Moscow.
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No-one expected the Eurogroup summit to end all the differences between Greece and the eurozone countries behind its bailout.
But, equally, no-one really expected it to end in the kind of acrimony we saw earlier in Brussels.
In the event, what we have witnessed is yet another demonstration of what happens when the euro collides with democratic politics.
It all comes back down to the key issue Syriza campaigned on in the Greek elections last month: ending the current €240bn bailout programme and replacing it with something more humane.
Most of Greece's euro counterparts have insisted that to do so is simply impossible - that if Greece wants to borrow more cash and continue to enjoy financial support from the European Central Bank, it must sign up to an extension of the existing programme, due to expire at the end of the month.
Video:There Is 'Substantial Disagreement'
However, doing so represents what Yanis Varoufakis, the Greek finance minister, has described as a red line.
Instead, he would rather agree to a separate "bridging loan" without the full conditions attached to the existing bailout (but with, he insists, "some conditionality, to build trust").
He claims that he was privately given such a promise by the European Commissioner in charge of the economy, Pierre Moscovici, last week.
But, in Mr Varoufakis' rendering, at the Eurogroup meeting on Monday afternoon, Mr Moscovici's draft proposal was replaced by Eurogroup head, Jeroen Djisselbloem, with something else entirely - an alternative communique that pledged that Greece should continue with the existing programme.
A copy of this document, with Mr Varoufakis' disapproving penmarks scrawled all over it, was leaked to the press.
In chaotic scenes, the meeting broke down within minutes.
Given it was billed as the make-or-break moment for the euro, the collapse of talks looks, on the surface of it, to be deeply worrying.
However, the reality is that Monday's deadline was always a self-imposed one.
The talks will continue in the coming days, and there is likely to be another Eurogroup meeting to confirm things as soon as something can be hatched behind the scenes.
But with every setback, worries grow that Greece could be edging slowly towards a possible default - or indeed a chaotic exit from the single currency.
There are still many more levers to be pulled by both sides between now and then. But the fact that a key meeting could break down so easily is a reminder that things will hardly be plain sailing in the coming weeks.
In other words, things are likely to get even worse before they get any better.
Greece has been warned of an impending "disaster" after crisis talks between the country's finance minister and Eurozone counterparts broke up without agreement in Brussels.
The country rejected a draft proposal put forward by European finance ministers that would see an extension of Greece's international bailout package.
Dutch finance minister Jeroen Dijsselbloem, who chaired the meeting, says Athens now has until Friday to request an extension or risk seeing the bailout expire at the end of the month.
If that happens the Greek state and its banks could face a looming cash crunch.
Greece's finance minister, Yanis Varoufakis, said negotiations will continue, adding he has "no doubt" an agreement will be reached that would be "therapeutic to Greece and for Europe".
Video:Greeks Back New Economic Strategy
But he added his country will not implement recessionary measures such as pension cuts and VAT hikes.
Greece's anti-austerity Syriza government recently swept to power on a promise to scrap the bailout as it stands.
But with Greece running out of money, Maltese finance minister Edward Scicluna said the country faces "disaster" unless it extends the bailout, which is due to end on 28 February.
"Greece has to adjust, to realise the seriousness of the situation," he said.
"It all depends on the realisation by Greece of the real seriousness of the situation because time is running out."
Mr Dijsselbloem said a "positive outcome" was still possible if Greece asked for the extension by the end of the week.
Video:What Is Greece's Future In Europe?
He said further talks are dependent upon Greece requesting a bailout.
"Given the timelines we have... we can use this week but that is about it," he said.
"The general feeling in the Eurogroup is still that the best way forward would be for the Greek authorities to seek an extension of the programme."
Many in the financial markets think a failure to secure agreement will leave Greece little option but to leave the euro.
European stock markets fell on Tuesday in reaction to the deadlock, with Greek banks suffering losses of up to 10% in early trading.
Mr Varoufakis and other European finance ministers are scheduled to remain in Brussels for routing talks on the EU economy today.
Video:Lamont: Write Off Greece's Debts
Sky's Economics Editor Ed Conway said: "The talks have broken down in rather acrimonious fashion.
"The ball is once again in Greece's court. European finance ministers leaving the talks said it was now up to Greece and its prime minister and ministers to request an extension to the deal.
"Otherwise the Eurogroup are not going to continue talking and there is the real prospect increasingly of Greece either defaulting or leaving the euro.
"The big problem is that Greece is potentially going to run out of money quite soon."
Written By Unknown on Senin, 16 Februari 2015 | 16.15
Police say two men arrested over a deadly shooting in Copenhagen have been charged with aiding the suspected gunman.
A massive manhunt was launched in the wake of the shootings, which left two dead and five police officers injured.
Police are attempting to piece together events leading up to the attack
By the early hours of Sunday officers believed they had caught the killer after suspect Omar-el Hussein was shot dead near a train station. The two men were later arrested nearby.
Reporting from Copenhagen, Sky's Ian Woods said: "We are hearing that police have charged two people that they detained with aiding the man suspected of shooting dead these people in that terrorist attack.
Video:Police Identify Shooting Suspect
"I'm told one of them was arrested at an internet cafe and the other was arrested five hours earlier in the morning.
"I am told they are being charged in connection with hiding him after the initial gun attack at the cafe in Copenhagen early on Saturday afternoon, and also with supplying the weapon used. They will appear before a judge in a closed court session."
The first attack happened shortly before 3pm UK time on Saturday when a gunman opened fire outside a cafe where a panel was discussing freedom of speech.
Documentary film maker Finn Noergaard, 55, who was attending the event in the Krudttoenden cultural centre, was killed and three officers were injured after the shooter, armed with an automatic weapon, fired through the windows leaving dozens of bullet holes.
Shortly after midnight UK time, a second attack happened outside a synagogue in Krystalgade, where a Jewish man was killed after being shot in the head and two police officers were wounded.
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Gallery: Two Killed In Cafe And Synagogue Shootings
Two people have been killed and five police officers were injured in two shootings in the Danish capital Copenhagen. This is the scene of the cafe attack on Saturday
He was later shot dead by officers here, near one of the city's train stations, after reportedly opening fire on them