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Greece Fails to Agree on Cash-for Reforms Deal with Creditors, Grexit Fears Mount

Greek and EU officials have failed to hammer out a cash-for-reforms deal at the latest round of their talks in Brussels on Sunday.

"While some progress was made, the talks did not succeed as there remains a significant gap," the European Commission said.

No breakthrough in weekend talks between Greece and lenders

Talks between Greece and its lenders ended with no breakthrough on Sunday evening in Brussels, with Thursday?s meeting of eurozone finance ministers now being identified as the next opportunity for an agreement to be reached on the measures needed for Athens to unlock another 7.2 billion euros in bailout funds and avoid a potential default.

Reuters: Euro officials openly consider Greek default scenario for first time

Reuters reports that top EU officials have for the first time discussed the possibility of a Greek default, with three main scenarios emerging. The least likely, according to reports, is a deal to free-up bailout funds in time to meet all of Athens’ June obligations to creditors, particularly the IMF.

Greece gets wake-up call: coming week could seal its fate

International creditors sent Greek Prime Minister Alexis Tsipras home from a summit Thursday with a clear message: swiftly tone down your demands in the bailout talks over the next week or face financial ruin.

The International Monetary Fund took the toughest stance, saying it was bringing its negotiators back to Washington as there had been no sign of compromise.

EU opens investigation into Amazon's e-book business

The European Commission opened a formal antitrust investigation into Amazon's e-book business on June 11, opening yet another front in mounting EU scrutiny of America's global tech giants. 

The investigation adds to the pressure on the online retailer in Europe, where it is already being investigated for the low tax rates it pays in Luxembourg. 

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