Bank of Greece warning over bailout

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Published: Wednesday 17th June 2015 by The News Editor

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Greece’s central bank is warning that the country would face an exit from the euro bloc and even the EU if it fails to reach a deal with bailout creditors by the end of the month.

The Bank of Greece said that Greeks would face a “deep recession (and) a dramatic decline in income levels” without an agreement.

The warning was made a day before a meeting of eurozone finance ministers.

They will discuss how to reach a deal with Greece to get it more rescue loans by June 30 – when the country’s bailout programme runs out and Athens is scheduled to make a 1.6 billion euro (£1.1bn) repayment to the International Monetary Fund.

Published: Wednesday 17th June 2015 by The News Editor

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