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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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'Greece tapped emergency funds to make debt repayment'

Greece has reportedly tapped into its emergency IMF account in order to source enough cash to make its first debt repayment, officials have revealed.

According to Reuters officials confirmed 650 million euros were taken from the country's holding fund, money which will have to be put back within "several weeks", and 100 million euros were collected from cash reserves to make today's payment.

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