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Greece denies default accusations

A greek flag flutters in front of the Greek parliament Image copyright AFP/Getty Images

Greece has denied reports it is preparing to default on its loans if it cannot reach agreement on its bailout terms with international creditors.

A government spokesman said negotiations were proceeding swiftly towards a solution.

Greece negotiated a three-month extension to its €240bn (£176bn; $272bn) bailout at the end of February.

The Greek government is due to pay the International Monetary Fund (IMF) €203m on 1 May and €770m on 12 May.

But reports suggest the government is rapidly running out of money. It needs to find €2.4bn to pay civil service salaries and pensions this month.

The Greek government has also dismissed media reports that it was considering calling early elections if it failed to negotiate a settlement with its international creditors.

Last week, eurozone officials said Greece only had six working days left to come up with a revised list of reforms to seal a deal on its next rescue bailout.

Eurozone deputy finance ministers want an agreement on the €7.2bn loan in time for a Eurogroup meeting on 24 April.

Greek prime minister Alexis Tsipras has said that Athens will not be able to service its debt without financial help from the European Union

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