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ATHENS, Greece (AP) — The latest news on Greece's financial woes as it faces a big repayment to the International Monetary Fund and its bailout program with European creditors is due to expire (all times local):
Airbus inked a deal to sell up to 75 of its A330 planes to a Chinese company during a visit by Prime Minister Li Keqiang to France on Tuesday in a deal worth $18 billion (16.1 billion euros) at list prices. Airbus boss Fabrice Bergier signed a deal for 45 confirmed orders, as well as a memorandum of understanding for 30 more with the China Aviation Supplies Holding Company, said Prime Minister Manuel Valls. The deal, which Airbus sources said was the biggest ever for the long-haul A330 by China, was signed during a three-day visit by Li to France in which he is expected to sign over 50 trade accords.
German Chancellor Angela Merkel ruled out new negotiations with Greece until after it votes on a proposal from creditors, leaving virtually no hope left to avert a midnight default despite a plea from Athens for a last-minute bailout extension. As the clock ticked down on Tuesday toward midnight, when billions of euros in locked-up bailout funds are due to expire, euro zone finance ministers called a conference call (1:00 a.m. EDT) to discuss the Greek request. Merkel said there could be no new negotiations until after a July 5 referendum that Greek Prime Minister Alexis Tsipras has called on an offer made last week by creditors, which Tsipras has told Greek voters to reject.