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German finance chief dismisses Greek proposals, saying they include no public spending cuts


FRANKFURT, Germany — German Finance Minister Wolfgang Schaeuble is dismissing the most recent Greek proposals for more bailout money.

Schaeuble said Friday that Greece's proposed conditions "are only increasing taxes, only increasing contributions. No cuts."

German and other creditors, particularly the International Monetary Fund, are concerned that Greece will rely too much on taxes and pension contributions that could hurt growth rather than on cutting pensions and spending.

Greece and its creditor are in tough talks about what the indebted country is willing to do to get the last installment of bailout money needed to avoid missing a debt repayment to the IMF June 30.

Schaeuble implied time is short: "The 30th of June is the 30th of June," he said. "Not the first of July."

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