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Eurozone chiefs fail to agree on debt deal

By AP Reporters

Published 26/06/2015

Greek Prime Minister Alexis Tsipras
Greek Prime Minister Alexis Tsipras

The bitter stand-off between Greece and its international creditors has been extended into the weekend - just days before Athens has to meet a crucial debt deadline which could decide whether it goes bankrupt and gets kicked out of the euro currency club.

A key meeting of eurozone finance ministers broke up without agreement on Greece's rescue package yesterday, intensifying doubts about whether Athens can pay the International Monetary Fund a debt worth £1.1bn on Tuesday.

An agreement on a drastic Greek tax and austerity reform package is necessary for creditors to unfreeze £5.1bn in bailout money that would get Prime Minister Alexis Tsipras off the hook.

"European history is full of disagreements, negotiations and, at the end, compromises," Mr Tsipras said. "So, after the comprehensive Greek proposals, I am confident that we will reach a compromise."

Lower-level negotiations will continue and a new meeting of eurozone finance ministers is tentatively scheduled to take place tomorrow.

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