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Osborne: Time to 'prepare for the worst' in Greek crisis

Chancellor George Osborne has said it is time to "prepare for the worst" as he urged the Greek government to do a deal with its lenders.

Arriving in Luxembourg for a meeting with EU ministers, Mr Osborne said Britain has "taken measures" to protect against a Grexit" by Athens from the single currency.

Meanwhile, Greek Prime Minister Alexis Tsipras insisted that there will be a solution to the debt crisis which will allow his country to return to growth.

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'No deal' in Greece debt crisis talks

No deal has been reached to resolve the Greece debt crisis at the meeting of 19 euro zone finance ministers in Luxembourg.

The European Commission Vice-President says that Greece needs to "engage seriously in negotiations".

Greece has to meet repayments on its 1.6 billion euro debt on June 30.

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