Greece Fails to Agree on Cash-for Reforms Deal with Creditors, Grexit Fears Mount
Greece is seeking to unlock bailout funding to avoid defaulting on a EUR 1.5 B debt repayment to the IMF due by end-June.
Meanwhile, Germany on Sunday issued its most serious warning yet that Greece could eventually exit the euro zone.
“The shadow of a Greek exit from the euro zone is becoming increasingly perceptible,” Bloomberg quoted German Economy Minister and Vice-Chancellor Sigmar Gabriel as saying in an opinion column to be published by Bild newspaper on Monday. “Greece’s game theorists are gambling the future of their country. And Europe’s too.”
Spending and overhaul plans presented by the Greek government at Sunday’s talks still remain as much as EUR 2 B a year short of what its creditors have demanded, according to European Commission spokeswoman Annika Breidthardt.
No more talks between the left-wing government in Athens and the EU are planned until Thursday’s meeting of euro zone finance ministers in Luxembourg, Breidthardt added.
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