NEWS

Greece talks push on as debt default looms

Greek and EU-IMF negotiators were locked in last-chance talks on Sunday to avert a default by Athens that could pave the way for a catastrophic exit by Greece from the euro and sow economic chaos in Europe.

Greece’s embattled premier Alexis Tsipras warned his nation on Saturday to prepare for a “difficult compromise” in what all sides agreed was the last chance for Athens to unlock vital bailout cash and keep its finances afloat.

“The talks are continuing today,” European Commission spokeswoman Mina Andreeva confirmed to AFP, with the outcome and duration of the marathon sitdown still very much uncertain.

Involved in the talks that began on Saturday are Tsipras’ closest aides and the three institutions responsible for overseeing the Greek bailout: the European Commission, the European Central Bank and the hardline International Monetary Fund.

“Positions are still far apart. It’s not certain whether there will be an outcome and senior commission officials are worried whether an agreement can be reached on time,” an EU official said on condition of anonymity.

But on a morning jaunt outside his offices in Athens, Tsipras told reporters he was “by nature an optimist” and foresaw a positive outcome to the talks, according to the ANA news agency.

[AFP]

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