Germany's Schaeuble says time 'tight' for Greece

(BERLIN) - Germany's Finance Minister Wolfgang Schaeuble warned on Wednesday that time was "tight" for debt-wracked Greece as it seeks solutions with European leaders to try to break a deadlock over planned reforms.

"I, and all those who are following this, we all have the impression that time is getting tight for Greece," Schaeuble told a press conference called to present the German government's planned 2016 budget.

"It's going to be increasingly difficult to find solutions, that's the big concern," he added.

His comments come on the eve of a European Union summit in Brussels where anti-austerity Prime Minister Alexis Tsipras hopes to achieve a breakthrough in talks over reforms.

Schaeuble also sought to distance himself from a war of words that has broken out recently between Berlin and Athens.

Tensions reached a new high last week when the Greek government lodged a formal complaint over comments by the veteran German minister.

"I have no knowledge of any impolite statements by me directed at any Greek politician whatsoever," Schaeuble told reporters at a joint press conference with Economy Minister Sigmar Gabriel.

"It's not about Greece against Germany," said Gabriel, who is also vice chancellor, but rather about "jointly maintaining the stability of the eurozone".