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Greece Debt Summit: EU Ministers Try to Deadlock Debt Crisis


European leaders hold an emergency summit in Brussels that could break the deadlock around Greece’s debt crisis.

Greece’s Prime Minister Alexis Tsipras said he hoped Greece would “return to growth within the eurozone”.

European finance ministers have said there is still no basis for making a decision for aid for Greece on June 22.Greece debt summit June 2015

On June 21, Alexis Tsipras set out new proposals to try to prevent a default on a €1.6 billion IMF loan.

But he has ruled out pension cuts, higher power rates, and an excessive budget surplus.

Greece must repay the loan by the end of June or risk crashing out of the eurozone and possibly the EU.

Talks have been in deadlock for five months. The European Commission, the IMF and the European Central Bank (ECB) are unwilling to unlock the final €7.2 billion tranche of bailout funds until Greece agrees to economic reforms.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.