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Sunday 4 December 2016

Greece to default on IMF loan

EUROzone

Greece will not be able to make a payment to the IMF that falls due on June 5 without a deal with its international lenders, the government's parliamentary speaker has said. The euro fell after the Greek government's parliamentary speaker said Greece is unable to repay the debt.

Athens faces several payments totalling about €1.5bn to the IMF next month and is in talks with the European Union and the IMF to clinch a cash-for-reforms deal before it runs out of money.

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