A final round of coalition talks are set to take place on Tuesday for Greece's political parties in a final bid by President Karolos Papoulias to broker a deal for a coalition government and break the deadlock of elections that have left the country in political limbo.

The far left Syriza party has refused to participate in the talks.

This has made the prospect of a parliament set against austerity a real possibility for the country, and now, also being discussed by the European Central Bank's governing council.

Al Jazeera's Nadim Baba reports.