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Greece pays first debt installment early

Greece appears to have made some progress in bailout talks with its European creditors by repaying the latest instalment of its debt a day early.

Some analysts think today's repayment is just delaying the inevitable - a major default on its debt and all the chaos that would bring to the Eurozone.

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EU officials: Statement expected on Greek debt progress

Two EU officials have said that Euro zone finance ministers are set tol issue a short statement on Greece. They are expected to welcome progress made so far with creditors but will also warn that more time and effort is needed to overcome difficulties in talks with creditors, the officials told Reuters.

Greek Finance Minister Yanis Varoufaki is in Brussels. Credit: PA

In a statement, one said: "There will be a short statement and it will refer to the progress made and the work ahead, welcoming the Greek's intention to accelerate their work."

Another official said that "more time and effort is needed to bridge the gaps" in talks to avoid a Greek default.

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