European Central Bank chief Mario Draghi on Monday urged all sides in the negotiations on Greece "to go extra mile", but insisted the ball was in Athens' court.

"A strong and credible agreement with Greece is needed, not only in the interest of Greece, but also of the euro area as a whole. While all actors will now need to go the extra mile, the ball lies squarely in the camp of the Greek government to take the necessary steps," Draghi told the European Parliament's Committee on Economic and Monetary Affairs.