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Monday, May 25, 2015

Greek Debt Negotiations Weigh on European Stocks



European stocks have fallen after a Greek minister said that Athens would struggle to meet its upcoming debt payments.
Interior Minister Nikos Voutsis made his comments during a weekend TV programme.

Stocks on Greece's ATG index are trading 2.13% lower on the day at 822.34.
Greece needs to strike a deal with its creditors in order to release €7.2bn (£5.1bn) in remaining assistance.

"The four instalments for the IMF in June are €1.6bn, this money will not be given and is not there to be given," Mr Voutsis said.
The country's finance minister meanwhile has told the BBC on Sunday that progress was being made.

"Greece has made enormous strides at reaching a deal," Yanis Varoufakis told the Andrew Marr Show.

Other benchmark indexes across Europe have also fallen.
The IBEX is down 2.21% to 11,298.3 after Spain's voters punished the ruling Popular Party (PP) in local and regional elections.
France's Cac-40 is down 0.84% to 5099.5, and Italy's MIB is down 1.99% to 23,308.

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