Talks between Greece and its eurozone creditors made some progress but "more time and effort are needed to bridge the gaps on the remaining open issues," eurozone finance ministers said in a joint statement following a round of negotiations in Brussels. Expectations were low for a breakthrough in the long-running talks over the terms of Greece's bailout program. In the statement, the finance ministers said they welcomed Greece's intention "to accelerate their work with the institutions, with a view to achieving a successful conclusion to the review in a timely fashion." Greece risks default in coming weeks unless it manages to reach a deal with its creditors. Greece on Monday prepared to make a scheduled loan repayment of 750 million euros ($837 million) due Tuesday to the International Monetary Fund, Reuters reported, citing a Greek official.
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