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    Jun 23, 2015

    Some progress in Greek crisis


    EURO-ZONE officials welcomed Greek concessions yesterday as a possible step towards a deal on averting a default, but politicians dismissed expectations of a breakthrough at a summit later in the day to secure the country's future in the euro zone.

    Hopes rose on financial markets as the officials accepted the reform proposal for the first time as a "reasonable" basis for negotiating an aid-for-reforms agreement between Athens and its creditors at the European Union and International Monetary Fund.

    But Germany, the biggest European contributor to Greece's bailout programmes, warned that the meeting in Brussels of euro-zone leaders could be only "a summit of consultations" without a detailed technical agreement.