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Saturday, 20 June 2015

Greece 'to offer new debt proposals'


A Greek minister has said new proposals will be put to creditors ahead of an emergency EU summit planned for Monday.

State Minister Alekos Flambouraris also told Greek media he believed the European Central Bank (ECB) would not allow Greece's banks to collapse.

Reports say billions of euros have been withdrawn from Greek banks in the past week.

The summit comes amid attempts to prevent Greece defaulting on a €1.6bn (£1.1bn) IMF loan repayment.

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.

Details of the new proposals have not yet been released.

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