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Merkel rejects Greek government's bid for further debt relief

German Chancellor Angela Merkel ruled out the possibility of offering Greece more debt relief on Saturday and stated that she doesn't see "a further debt haircut" in the debt-ridden country's future.

The decision came as a blow to the new Greek government as they had promised voters that they would put anti-austerity measures in place and demand neighbouring countries to write off part of its 320 billion euro ($360 billion) debt.

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Greek finance minister in Paris for debt talks

Greek finance minister Yanis Varoufakis is in Paris meeting with international creditors, as the country's new leftist leadership seeks to renegotiate huge debts.

Greek finance minister Yanis Varoufakis. Credit: Reuters.

The meeting is taking place a day earlier than planned. He will then travel to London and Rome.

France's socialist government is open to renegotiating terms but opposed to forgiving any of the Greek debt.

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