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Greece: new round of debt talks as default looms


Greece

Greece: new round of debt talks as default looms

Denying that a debt default was discussed,
Greek Prime Minister Alexis Tsipras met with his negotiating team before they headed to Brussels for crunch weekend talks.

Markets were rattled on Friday when the International Monetary Fund walked out of talks and EU officials held their first formal discussion that a Grexit may now be close.

Greece must repay 1.6 billion euros in bailout funds to the IMF but the end of June.

Eurogroup President Jeroen Dijsselbloem said: “We have repeatedly explained that there’s little time left and how hugely important it is; especially for the Greeks. On the other hand, I’m also not getting impatient. There is only a deal possible if this plan fits together substantively.”

Dozens of accountants protested in Athens on Friday demanding an end to austerity and help to tackle the country’s complicated tax system.

They say that fines and levies introduced to improve tax collection are excessive and unrealistic.

Some analysts believe that Greece is getting closer to a take it or leave it scenario. But Athens says its ready to submit counter proposals to tackle differences with its creditors.

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