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Saturday 10 December 2016

Greece on brink as IMF walks out of debt talks

Peter Spence

Published 12/06/2015 | 02:30

Greek Prime Minister Alexis Tsipras, left, and European Commission President Jean-Claude Juncker participate in a bilateral meeting on the sidelines of the EU-CELAC summit in Brussels. Photo: AP
Greek Prime Minister Alexis Tsipras, left, and European Commission President Jean-Claude Juncker participate in a bilateral meeting on the sidelines of the EU-CELAC summit in Brussels. Photo: AP

Negotiating teams from the International Monetary Fund (IMF) and the Greek government left Brussels yesterday, with the IMF blaming "major differences" and saying that no deal had been agreed.

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A more amiable mood between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker on Wednesday had led investors to think that the Greek debt stand-off had come to an end.

The brief rally enjoyed by holders of Greek equities is now expected to dissolve this morning, after IMF spokesman Gerry Rice said: "The ball is very much in Greece's court."

Mr Rice added: "There are major differences between us in most key areas. There has been no progress in narrowing these differences recently."

Irish Independent

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