EA June 2015

11th Hour Meeting Signals Optimism as Bailout for Greece Takes Shape

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Spellman 1EURO DEPOSIT WITHDRAWALS ESCALATE

As pressure on Greek’s banking system mounted with depositors queuing last week to withdraw €4 billion in savings, and the dire situation reverberating in financial markets, creditors today signaled that Athens’ latest package of reforms was “broadly welcomed” as a “positive step” in securing rescue funds needed to meet a key debt payment due June 30. The next 48 hours are critical in ironing out the details, officials said.

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