George Osborne has warned the stand-off between Greece and the Eurozone is becoming the biggest risk to the global economy. The chancellor was speaking after his meeting with Yanis Varoufakis, in which he urged the Greek finance minister to “act responsibly" in any bailout negotiations with Europe. He added the stand-off presented "a rising threat to our economy at home". Greece’s new government unveiled proposals on Monday for ending the confrontation with its creditors by swapping outstanding debt for new growth-linked bonds, running a permanent budget surplus and targeting wealthy tax-evaders.
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