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All possibilities open for Greek debt deal to avert bankruptcy as deadline looms

Xinhua, June 26, 2015 Adjust font size:

All possibilities for a compromise deal between debt-laden Greece and its international lenders to stave off a possible bankruptcy and Grexit this summer was still open on Friday, as the crucial June 30 deadline looms, according to Greek officials.

After a week of marathon deliberations in Brussels to hammer out a reforms-for-cash agreement on time, no concrete progress was in sight ahead of a final Eurogroup meeting scheduled for Saturday and the situation was fluid, according to the Greek side.

"We cannot comprehend the institutions' insistence on unbearably tough measures," Greek Prime Minister Alexis Tsipras told German Chancellor Angela Merkel and French President Francois Hollande on Friday at the sidelines of the EU summit, according to Greek government sources.

During Saturday's Eurogroup meeting, Greece will be presented with a plan for a five month new extension of the second bailout that was extended in February, Greek national news agency AMNA reported on Friday citing European sources.

However, the two sides seem to still have some way to go to reach an agreement on the conditions of the disbursement of any further aid to Greece after June 30.

All possibilities are still open, Greek Interior Minister Nikos Voutsis and Labor Minister Panos Skourletis told Greek media during interviews on Friday.

The current climate chances for a deal on Saturday seem slim, Skourletis said, accusing creditors of pushing Greek society to suicide. The Greek minister warned that without a deal Athens might not repay a 1.5 billion euro loan installment to International Monetary Fund next Tuesday.

At the same time, Greek Economy Minister Yorgos Stathakis was appearing confident that a deal could be reached on Saturday. Endit