Greece fails in bid for early cash release, reforms awaited

March 25, 2015 3:25 PM

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Greece fails in bid for early cash release, reforms awaited

BRUSSELS/ATHENS (Reuters) - Greece failed in a bid on Wednesday to secure a quick cash payment from the euro zone rescue fund to help stave off potential bankruptcy next month, raising pressure on Athens to deliver a convincing reform program within days.

Athens had appealed for the European Financial Stability Facility to return 1.2 billion euros ($1.32 billion) it said it had overpaid when it transferred bonds intended for bank recapitalization back to the Luxembourg-based fund this month.

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