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Greece says it will not pay debt
30 Jun 2015 13:01
Greece will not pay a €1.6bn debt instalment to the International Monetary Fund due today, but Athens still holds out hope of a last-minute deal with creditors on an aid package, Finance Minister Yanis Varoufakis said.
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Asked by a reporter if Greece would make the payment, Mr Varoufakis replied: "No".
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On the possibility of an eleventh hour aid deal with international creditors, Mr Varoufakis said: "We hope so".
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Greek Prime Minister Alexis Tsipras is considering a last-minute bailout proposal by the European Commission, the Greek daily Kathimerini reported today, with the clock ticking down to the expiration of the bailout programme.
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"The prime minister's office has told Brussels that it is evaluating yesterday's new proposal of the EU Commission President, which included debt relief in October and changes in the EKAS supplement (for low-income Greeks)," the paper reported, without specifying its sources.
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By falling into arrears on its IMF debt it will mean it can no longer borrow from the IMF.
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The international pressure on Greece increased dramatically last night.
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The head of the European Commission Jean Claude Junker made a last-minute offer to Athens in a bid to reach a bailout agreement before the deadline expires today.
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