Breakdown of Greek talks sets up EU summit showdown

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The latest breakdown in talks between Greece and its international creditors means any deal will have to be done at an EU summit.

Leaders meet in Brussels on June 25th for talks that are likely to be dominated by the ongoing Greek debt crisis.

IMF officials want Greece to find 1.8 billion euros in savings from pensions, the Associated Press news agency quoted EU diplomats as saying.

But the left-wing Syriza government has stuck to a hardline position, saying it won’t accept pension cuts.

The European Commission, which has chaired talks over the past four months, hit back on Monday.

“It is a gross misrepresentation of facts to say that the institutions are calling or have called for cuts in individual pensions,” said Commission spokeswoman Annika Breidthardt.

“The pension system is one of the most expensive parts of spending, it’s also one of the most expensive pension systems in Europe, and therefore a reform of the pension system is part of the requirements”.

Greece mus

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