Most top credit rating agencies say they would not cut Greece's rating to default if it misses a payment to the International Monetary Fund or European Central Bank, a stance that could keep vital ECB funding flowing into the financial system.
Breaking News
The head of Greece's bank rescue fund maintained on Thursday that Athens has a legal claim to 1.2 billion euros in the euro zone's bailout fund, a day after European officials rejected its request.
Greece said it will present a package of reforms to its euro zone partners by next Monday in hope of unlocking aid to help it deal with a cash crunch and avoid default.
Euro zone ministers are considering extending Greece's bailout by six months to mid-2015, according to a document obtained by Reuters, but Athens said it was only willing to consider an extension of a few weeks to the unpopular program.
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