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Greece bailout talks end with no deal, 'significant gap' remain : EU

15 june 2015, 11:19

 Crunch bailout talks between Greece and its EU-IMF creditors ended without a deal on Sunday, with a "significant gap" still remaining, a European Commission spokesman told AFP, AFP reports.

"While some progress was made the talks did not succeed as there remains a significant gap between the plans of the Greek authorities and the joint requirements of the Commission, ECB and IMF," said the spokesman from the EU's executive, referring to the three institutions that oversee Greece's huge bailout.

The Greek proposal "remains incomplete", the source said, saying it fell short of providing the necessary reforms to unlock the 7.2 billion euros ($8.1 billion) still remaining in Greece's international bailout, which expires June 30.

"On this basis further discussions will now take place in the Eurogroup," the EU spokesperson said, referring to a meeting of eurozone finance ministers set for Thursday in Luxembourg.

"President Juncker remains convinced that with stronger reform efforts on the Greek side and political will on all sides, a solution can still be found before the end of the month."

In Athens, Greek authorities slammed the continued demands of its international creditors as "irrational" and pinned blame for the impasse on what it said was a hardline stance taken by the IMF.

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