Long lines in Greece as banks reopen; new proposal weighed

Eurozone finance ministers were set to weigh Greece’s latest proposal for aid Wednesday, hours after the country’s international bailout expired without a deal, cutting it off from vital financing and deepening fears over whether it will be able to remain in the eurozone.

With its failure to repay the roughly 1.6 billion euros ($1.8 billion) to the International Monetary Fund, Greece became the first developed country to fall into arrears on payments to the fund. The last country to do so was Zimbabwe in 2001. Wednesday’s teleconference of eurozone finance ministers was to take place after the ministers said late Tuesday there was no way they could reach a deal to extend the bailout for Greece before the midnight deadline.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4674831,00.html

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