Greece has agreed to budget targets for 2015, conceding on a key red line in talks towards unlocking crucial bailout cash before the end of the month, a European Commission spokeswoman said on Monday.

"The Greek authorities agreed to these targets, the question is how credible the commitments are to achieve (them)," Annika Breidthardt, spokeswoman for the EU executive, said at a news briefing, a day after crunch talks between Greece and its creditors ended with no deal.