A senior member of the European Central Bank says Greece should be given more time and aid to get its financial house in order.

German ECB official Jorg Asmussen says giving Greece additional aid would be far less expensive than the cost of the country leaving the eurozone.

His comments come ahead of the Eurozone finance ministers meeting in Brussels on Monday - during which they are due to discuss releasing a €31.5 billion aid tranche to Athens - which has been held back since June.