Because of “significant differences” subsisting between Greece and its creditors, the discussions that were held since Saturday in Brussels ended without agreement, announced Sunday, June 14 a spokesman of the European Commission.
“The Greek proposals remain incomplete” , stressed the spokesman, saying that the President of the Commission, Jean-Claude Juncker, “remains convinced” a solution “can be found by the end of the month” , the date when Greece faces an important deadline for repayment to the IMF that it might not be able to honor.
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A gap of two billion euros
For the Commission The Greeks must realize “up to two billion euros” annual budgetary efforts to get financial help they desperately need. “On this basis, further discussions will now take place at the Eurogroup” , which brings together the finance ministers of the euro area, the source said. The next meeting of this coterie is scheduled for Thursday in Luxembourg.
Jean-Claude Juncker “remains convinced that more reforms Greek side’s efforts and political will from all sides, a solution can still be found by the end of the month “
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Greece considers the claims of creditors “irrational”
Meanwhile, a Greek government source said Sunday night that the claims of creditors were “irrational” and has blamed the IMF accused of a position “uncompromising and hard” .
Greece is more than ever under threat of default, which could be an explosion with unpredictable consequences for the whole euro area. Athens must indeed pay on June 30 of € 1.6 billion of IMF loans, and high risk of not being able to honor this deadline without the release of 7.2 billion euros, suspended since last summer to an agreement Creditors
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