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Greece Poised for Default on IMF Payment

Greek banks remained shut Tuesday as the nation appeared ready to formally default on a $1.8 billion loan repayment to the International Monetary Fund. Greek Finance Minister Yanis Varoufakis confirmed the country would not make its payment, which was due later Tuesday, to the International Monetary Fund, The Associated Press reported.   When asked whether Greece would pay the 1.6 billion euros due to the IMF, Varoufakis said, "No.'' While the country's economic...

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