A young man skates at the entrance of the Bank of Greece headquarters in Athens, Greece in this June 10, 2015 file photo. REUTERS/Alkis Konstantinidis/Files
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Default by debt-wracked Greece loomed dangerously closer after last-ditch talks between Athens and its EU-IMF creditors collapsed Sunday, bringing the threat of a Greek exit from the euro closer than ever.Greece is shattered economically after six years of crisis and despite two rescue programs since 2010, worth 240 billion euros ($270 billion), mostly in loans owed to its European partners, led by Germany and France.According to an EU source, savings from the reform measures put on the table by anti-austerity Greece fell short by two billion euros.At the end of the month, Greece faces a huge 1.6 billion euro payment to the IMF with another 6.7 billion euros due to the European Central Bank in July and August, which Greek officials have said the government cannot afford.To meet the June 30 deadlines, a reform deal would have to be resolved by the Thursday meeting of the eurozone's 19 finance ministers, who control the bailout purse strings.
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