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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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Russia may consider offering financial support to Greece

Russia could consider offering financial support to Greece, a Russian official has said.

But the Kremlin stressed it would have to hear a proposal from Greece before taking any action.

Greek Prime Minister Alexis Tsipras and Russian President Vladimir Putin will hold talks later today. Credit: Reuters

Asked whether Russia would be ready to offer aid, Dmitry Peskov urged reporters to wait for the conclusion of talks between Greek Prime Minister Alexis Tsipras and Russian President Vladimir Putin later today.

"To address this question, we first need to hear some kind of proposal, some kind of initiative from our Greek partners. Let's wait first for the talks .. and then we will inform you," he said.

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

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