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1st LD Writethru: Extraordinary Eurogroup teleconference to discuss Greek proposal: Eurogroup head

Xinhua, June 30, 2015 Adjust font size:

The Eurogroup will hold an extraordinary teleconference Tuesday evening at 7:00 p.m. local time here (1700 GMT) to discuss the Greek government's official request sent Tuesday afternoon, Eurogroup head Jeroen Dijsselbloem tweeted Tuesday.

Greece's government proposed a two-year debt deal with the European Stability Mechanism (ESM) in a last-minute bid to avert default and a possible Grexit, Greek Prime Minister Alexis Tsipras' office said on Tuesday.

The statement was issued hours before the ongoing Greek bailout was due to expire on Tuesday at midnight amid increased concern over Greece's dire financial straits.

Earlier on Tuesday, Greek Finance Minister Yanis Varoufakis had said that Athens would not repay the loan installment due to the International Monetary Fund, also due Tuesday.

The Greek minister appeared hopeful that a deal could be reached at the last moment amid media reports that a frenzied round of negotiations had resumed since Monday night. Endit