The European Commission said on Saturday that the 16-member euro zone still has not agreed on a bailout plan for Greece.

A spokesman for the European Union (EU)'s executive arm told reporters on Saturday that a deal "has not been concluded" but technical work is ongoing on the deal.

Earlier Saturday, Britain's Guardian newspaper reported that eurozone countries have broadly agreed to the bailout plan after Germany finally bowed to pressure despite domestic opposition, citing unnamed sources in Brussels.