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Greek debt: Talks to resume as deadline beckons

Greek debt talks are resuming after creditors accused the country's Prime Minister Alexis Tsipras of failing to compromise.

Greece faces a 1.6 billion euro debt repayment to the International Monetary Fund on Tuesday, and is thought to require a new deal to avoid default and a possible withdrawal from the eurozone.

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Greece negotiations set to resume as deadline beckons

Greece's Prime Minister is set to resume negotiations with international creditors after negotiations to avoid a Greek debt default faltered last night with euro zone finance ministers accusing Athens of refusing to compromise.

Greek PM Alexis Tsipras. Credit: PA

With a deadline next week that could put Greece on a path out of the euro zone, European Union leaders are due in Brussels for a summit later.

Greek PM Alexis Tsipras negotiated into the early hours with heads of creditor institutions to try to thrash out a cash-for-reform deal before the euro zone ministers reconvene at 11pm.

Main developments include:

  • Finance ministers break off meeting saying gap still wide
  • With the EU summit creditors to keep talking
  • Big gaps remain on taxes, pensions, labour reform
  • Greek demand for debt restructuring not discussed
  • Street protests in Athens against more austerity

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