Greek debt crisis: European ministers and Greece fail to strike deal

Greece must pay its debts by 30 June or risk leaving the eurozone, and the EU

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Greece and European ministers have failed to strike a deal over the country’s debt, as the International Monetary Fund’s (IMF) 30 June deadline edges closer.

Valdis Dombrovskis, an EU vice-president, tweeted that there was no deal at the meeting of the eurozone's 19 finance ministers in Luxembourg.

The leading official said that there was a strong signal for Greece “to engage seriously in negotiations”.

Mr Dombrovskis added that the group of eurozone finance ministers "stands ready to reconvene at any moment”.

Eurogroup president Jeroen Dijsselbloem said that Greek Finance Minister Yanis Varoufakis did not offer enough credible measures at Thursday's meetings, adding that an agreement doesn't appear to be on the horizon.

"Time is running out," he warned, and urged the Greek government to submit new proposals in the coming days, AP reported.

If negotiations are successful, Greece's creditors, including eurozone states and the IMF, will unlock the €7.2bn loans for the beleaguered nation.

However, Greece is currently struggling to make its debt repayments for 30 June.

If its government fails to make the payment and defaults on its debts, it could be forced to leave the eurozone and even the EU.