German Chancellor Angela Merkel said Wednesday a solution was possible to the Greek debt crisis, adding that she was available to meet Greek Prime Minister Alexis Tsipras in Brussels if he wanted.

"The goal is to keep Greece in the eurozone. I alway approach these things with the attitude, if there is a will there is a way," Merkel told reporters as she arrived for a summit of EU and Latin American leaders which Tsipras is also attending.

"But the work has to happen with the three institutions (Greece's bailout monitors: the European Commission, European Central Bank and International Monetary Fund). And every day counts."

Officials had earlier cast doubt on whether a three-way meeting between Merkel, French President Francois Hollande and Tsipras would take place on the sidelines of the summit, but Merkel said she was ready.

"On the fringes there will be maybe a meeting with the Greek prime minister, as well with the French president. We did not yet fix a time, but if the Greek prime minister wants to talk with us, we will of course do that."

The government of radical leftist Tsipras has been locked in a five-month standoff with its EU-IMF creditors, especially hardline Germany, who want more reforms before unlocking the final cash from Greece's international bailout before it expires at the end of June.

Greece on Tuesday submitted a new reform plan but the EU dismissed it earlier Wednesday, while talks between Tsipras and European Commission chief Jean-Claude Juncker a week ago failed to produce a breakthrough.