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| Greece needs to seize 'last opportunity' for deal | |
| (35 minutes later) | |
| Greece needs to seize a "last opportunity" to reach a deal with its creditors, the head of the Eurogroup, Jeroen Dijsselbloem has said. | |
| He was speaking after a meeting of European finance ministers that ended with no agreement on Greece's debt. | |
| Mr Dijsselbloem called on Greece to submit "credible" proposals in the coming days. | |
| He highlighted that "very little time remains" as Greece's current bailout programme runs out this month. | |
| "It is still possible to find an agreement and extend the current programme before the end of the month, but the ball is clearly in the Greek court to seize that last opportunity," Mr Dijsselbloem said. | |
| Looming deadline | Looming deadline |
| Pressure was also raised on Greece earlier today when the boss of the International Money Fund (IMF), Christine Lagarde, warned there is "no period of grace" for Greece over a debt repayment deadline. | |
| She said Greece would be in default on its loans from the IMF if it failed to make a €1.6bn (£1.1bn; $1.8bn) payment on 30 June. | She said Greece would be in default on its loans from the IMF if it failed to make a €1.6bn (£1.1bn; $1.8bn) payment on 30 June. |
| German Chancellor Angela Merkel said earlier she was "still convinced" that a Greek debt deal was possible. | German Chancellor Angela Merkel said earlier she was "still convinced" that a Greek debt deal was possible. |
| Cash-strapped Greece now has less than two weeks left to reach a debt deal, having already rolled a €300m payment in with those due on 30 June. | |
| If it fails to make the payment, it risks having to leave the eurozone and possibly also the EU. | If it fails to make the payment, it risks having to leave the eurozone and possibly also the EU. |
| But the European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock bailout funds until Greece agrees to reforms. | But the European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock bailout funds until Greece agrees to reforms. |
| They want Greece to implement a series of economic changes in areas such as pensions, VAT and on the budget surplus before releasing €7.2bn of funds, which have been delayed since February. | They want Greece to implement a series of economic changes in areas such as pensions, VAT and on the budget surplus before releasing €7.2bn of funds, which have been delayed since February. |
| Report dismissed | |
| Also on Thursday, EU diplomats played down German media reports that Greece could be offered an extension to its bailout deal. | |
| German newspaper Die Zeit reported that Greece's creditors planned to offer to extend the existing aid programme to the end of the year, which would buy more time for further negotiations. | |
| That was dismissed as having "nothing to do with reality", according to one EU diplomat speaking to the Reuters news agency. | |
| The BBC's Chris Morris said that similar reports emerged last week. | |
| In another development, Greek Prime Minister Alexis Tsipras denied allegations that elderly Greeks were receiving lavish pensions. | In another development, Greek Prime Minister Alexis Tsipras denied allegations that elderly Greeks were receiving lavish pensions. |
| Writing in the German newspaper Der Tagesspiegel, he said: "The problem is not one of supposed generous pensions. The most significant disruption to the pension funds is due to dramatically lower revenues in recent years. | Writing in the German newspaper Der Tagesspiegel, he said: "The problem is not one of supposed generous pensions. The most significant disruption to the pension funds is due to dramatically lower revenues in recent years. |
| "These were caused by... the sharp drop in contributions that resulted from soaring unemployment and the reduction in wages." | "These were caused by... the sharp drop in contributions that resulted from soaring unemployment and the reduction in wages." |
| 'Commitments' | 'Commitments' |
| In her statement to the German parliament, Mrs Merkel said Germany was working hard to keep Greece in the euro, but said Athens had to follow through on reform commitments. | In her statement to the German parliament, Mrs Merkel said Germany was working hard to keep Greece in the euro, but said Athens had to follow through on reform commitments. |
| "I'm still convinced - where there's a will, there's a way," she said. | "I'm still convinced - where there's a will, there's a way," she said. |
| "If those in charge in Greece can muster the will, an agreement with the three institutions is still possible." | "If those in charge in Greece can muster the will, an agreement with the three institutions is still possible." |
| Greece - deal or no deal? | Greece - deal or no deal? |
| Greece has less than two weeks remaining to strike a deal with its creditors or face defaulting on an existing €1.6bn (£1.1bn) loan repayment due to the IMF. | Greece has less than two weeks remaining to strike a deal with its creditors or face defaulting on an existing €1.6bn (£1.1bn) loan repayment due to the IMF. |
| The country has already rolled a €300m payment into those due on 30 June. | The country has already rolled a €300m payment into those due on 30 June. |
| Peston: Will ECB keep Greece afloat? | Peston: Will ECB keep Greece afloat? |
| Walker: The options for Greece | Walker: The options for Greece |
| What impact would Grexit have on UK? | What impact would Grexit have on UK? |
| Mrs Merkel told the Bundestag that Greece had received "unprecedented help" from its EU partners, but had failed to honour its commitments in return. | Mrs Merkel told the Bundestag that Greece had received "unprecedented help" from its EU partners, but had failed to honour its commitments in return. |
| She said: "In February there was an agreement - the Greek government pledged to carry out structural reforms, and that must be done." | She said: "In February there was an agreement - the Greek government pledged to carry out structural reforms, and that must be done." |
| Her statement suggested there was little room for manoeuvre over a possible restructuring of Greece's existing debt mountain - and none when it came to a Greek request for some, or for that matter any, of that debt to be written off. | Her statement suggested there was little room for manoeuvre over a possible restructuring of Greece's existing debt mountain - and none when it came to a Greek request for some, or for that matter any, of that debt to be written off. |
| Greek debt talks: main sticking points | Greek debt talks: main sticking points |
| Is Greece close to Grexit? | Is Greece close to Grexit? |
| EU solidarity damaged by Greek splits | EU solidarity damaged by Greek splits |
| Are you in Greece? How have you been affected by the crisis over recent years? You can email haveyoursay@bbc.co.uk with your experience. | Are you in Greece? How have you been affected by the crisis over recent years? You can email haveyoursay@bbc.co.uk with your experience. |
| If you are willing to speak further to a BBC journalist, please include a contact telephone number. | If you are willing to speak further to a BBC journalist, please include a contact telephone number. |
| Or WhatsApp us on +44 7525 900971 | Or WhatsApp us on +44 7525 900971 |