Deadline for deal on Greece is end of June, says Italy PM Renzi

Talks between Greece and its eurozone partners over an aid-for-reforms deal could continue after a European Summit this week and Athens has until the end of the month to stave off possible default, Italian Prime Minister Matteo Renzi said on Wednesday.

Addressing the Italian parliament, Renzi said negotiations “may not be completed at the summit, because the deadline is the end of the month.”

Greece risks defaulting on a 1.6 billion euro debt repayment to the International Monetary Fund due by June 30 unless it agrees a deal to release fresh cash from its lenders. [Reuters]