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Greek debt deadline approaches

A meeting between Greece and European finance ministers ended today without a deal. Greece did submit a new proposal for potential reforms but it’s unclear whether it will be accepted. More talks are expected to take place later this week. Greece hopes to renegotiate the terms of a final loan agreement for its international bailout. Greece and the Eurozone lenders and the IMF have been in negotiations for months over what kinds of reforms Greece needs to make in order to secure the final group of loans. Greece is hoping to avert a default on its next payment, which is due June 30th. Last week, Greeks, afraid that an agreement would not be reached, began to pull their money of banks, and thus far, Greeks have pulled out more than 30 billion euros since the crisis began. Stephen Nelson, a professor of political science at Northwestern University who specializes in the politics of debt joins us to discuss the ongoing debt negotiations. (Photo: AP/Yorgos Karahalis)

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