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| Greek debt: Fears grow over Greek banks' health | |
| (about 1 hour later) | |
| Fears are growing over the health of Greek banks after reports that savers have withdrawn billions of euros in the past week. | Fears are growing over the health of Greek banks after reports that savers have withdrawn billions of euros in the past week. |
| Capital flight from beleaguered Greek banks this week alone could be more than €3bn (£2.1bn), reports say. | Capital flight from beleaguered Greek banks this week alone could be more than €3bn (£2.1bn), reports say. |
| Savers are moving funds as time runs out on Greek debt crisis resolution. | Savers are moving funds as time runs out on Greek debt crisis resolution. |
| It is understood the European Central Bank will hold a meeting later to agree more emergency liquidity assistance for the banks. | It is understood the European Central Bank will hold a meeting later to agree more emergency liquidity assistance for the banks. |
| The pace of withdrawals has gained speed as talks between the government and its creditors have collapsed. | |
| On Monday, an emergency summit of leaders from eurozone nations will be held after the latest attempt to resolve the Greek debt crisis failed. | |
| A meeting of eurozone finance ministers on Thursday made no breakthrough. | A meeting of eurozone finance ministers on Thursday made no breakthrough. |
| The head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, said that "too little" progress had been made and that "no agreement as yet is in sight". | The head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, said that "too little" progress had been made and that "no agreement as yet is in sight". |
| The Reuters news agency said withdrawals by Greek savers between Monday and Thursday reached about €3bn, which represents about 2.2% of household and corporate deposits held by Greek banks at the end of April. | |
| "There are no lines [queues] or panic, it has been a quiet and gradual phase of withdrawals," one banker told Reuters. "They are due to worries whether a deal will be clinched with the country's lenders." | |
| Greece - deal or no deal? | |
| Peston: Is there any way Greece can avoid default?? | |
| Walker: The options for Greece | |
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| Greece debt crisis: Full coverage | |
| 'Prepared for the worst' | |
| Ahead of a meeting of European finance ministers on Friday, UK Chancellor George Osborne said: "We have entered the eleventh hour of this Greek crisis, and we urge the Greek government to do a deal before it is too late. | |
| "We hope for the best, but we now must be prepared for the worst." | |
| Greece has less than two weeks remaining to strike a deal or face defaulting on a €1.6bn (£1.1bn) loan repayment due to the International Monetary Fund. | Greece has less than two weeks remaining to strike a deal or face defaulting on a €1.6bn (£1.1bn) loan repayment due to the International Monetary Fund. |
| 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. |
| 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 ECB are unwilling to unlock bailout funds until Greece agrees to reforms. | But the European Commission, the IMF and the 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. |
| Mr Dijsselbloem stressed that "very little time remains" for Greece. | Mr Dijsselbloem stressed that "very little time remains" for Greece. |
| But Greek Prime Minister Alexis Tsipras said on Friday that there would be a solution to Greece's debt crisis. | |
| "The [eurozone] leaders summit on Monday is a positive development on the road toward a deal," Mr Tsipras said in a statement. | "The [eurozone] leaders summit on Monday is a positive development on the road toward a deal," Mr Tsipras said in a statement. |
| "All those who are betting on crisis and terror scenarios will be proven wrong." | "All those who are betting on crisis and terror scenarios will be proven wrong." |
| He added: "There will be a solution based on respecting EU rules and democracy which would allow Greece to return to growth in the euro." | He added: "There will be a solution based on respecting EU rules and democracy which would allow Greece to return to growth in the euro." |
| Russia gas deal | |
| Mr Tsipras was at an economic forum in St Petersburg in Russia on Friday with a delegation of ministers and business leaders. | |
| At the forum, Greece and Russia signed a memorandum on extending the planned Turkish Stream gas pipeline to Europe through Greek territory. | |
| Athens said funding would come from Russian state development bank VEB. | |
| Greek Energy Minister Panagiotis Lafazanis said at the signing ceremony that Greece needed support and not pressure, and that co-operation with Russia was not aimed against other countries or Europe. | |
| But Russia is ready to consider giving financial aid to Greece, the TASS news agency reported. | |
| "We will support any solution on regulating the Greek debt crisis that is suggested by Greece and our European partners," the agency quoted Russian Deputy Prime Minister Arkady Dvorkovich as saying. | |
| "The most important things for us are investment projects and trade with Greece. If financial support is required, we will consider this question." | |
| 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 |