Greek Deadlock Has Leader Hoping for Miracle to Avoid Default
It's getting down to crunch time
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Greece snubbed European pleas to submit a proposal to avert a default, dimming chances of a compromise at a key meeting this week.
The country needs to seal an accord or get an extension before the euro area’s bailout expires on June 30, or risk missing payments on its debt of about 313 billion ($354 billion) euros. Stocks fell for a third day amid reports that an emergency meeting of Europe’s leaders is being considered.