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Too little progress has been made in the talks between the institutions and Greece and no agreement as of yet is in sight, Eurogroup President Jeroen Dijsselbloem, stated during a press conference in Luxembourg on the ongoing negotiations of Greece's debt programme as the country's bailout extension deadline looms. The Eurogroup President added that under the guidelines of the bailout extension programme agreed in February, from the perspective of the institutions formally known as the Troika (IMF, ECB, EU), Greece had failed to offer any new satisfactory proposals. He added that the debt extension deal must be credible to the Eurozone, adding that very little time remains to agree on a new deal. Since Syriza's election, Greek authorities and the institutions have been negotiating for five months to unlock the €7.2 billion ($8bn) of rescue funds it needs to pay the IMF. The bailout extension ends on June 30. If Greece fails to meet the deadline, it faces default and exit from the Eurozone. The quarrel between Greece and its creditors has made the prospect of a deal being struck at Thursday's Eurozone finance ministers' meeting less likely.
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