* Global money markets show more stress over Greek debt * China's Premier highlights inflationary pressures * Copper rangebound, vulnerable to macroeconomic events, analyst * Coming up: U.S. personal income May; 1230 GMT (Updates prices, add quotes and details) By Carrie Ho SHANGHAI, June 27 (Reuters) - Copper fell on Monday as worries about an upcoming vote by the Greek parliament on new austerity measures buoyed the dollar and on continued concerns that inflation pressures may prompt top buyer China to tighten credit further. Three-month copper on the London Metal Exchange slipped 0.8 percent to $8,974.50 a tonne by 0724 GMT, after climbing almost 1 percent in the previous session, continuing a pattern of rangebound trade. The most-active September copper contract on the Shanghai Futures Exchange dropped 1.7 percent to 66,840 yuan per tonne by its midday close. Greece's parliament begins on Monday to debate a deeply unpopular austerity plan which international lenders are demanding to see approved this week to avert the threat of bankruptcy. Global money markets showed more signs of stress as banks and investors fret about potential exposure on the risk that Greece is pushed into a default, with Australian interbank futures soaring to almost fully price in a rate cut. "Copper's fundamentals are strong but it remains vulnerable to macroeconomics, especially to the euro debt crisis now," China Futures Co analyst Yang Jun said. "But copper's fall today is still within the range it has been in the past few sessions -- bound between 66,000 and 69,000 yuan in Shanghai, and $8,850 and $9,300 in London," he added. Jinrui Futures analyst Guo Yong also noted that copper prices were rangebound and listed worries over the U.S. economy and the Chinese economy as some of the major macroeconomic factors affecting base metal markets now. Chinese Premier Wen Jiabao said it would be difficult for China to keep inflation under four percent this year but under five percent is achievable, Hong Kong television stations reported on Monday. Wen's statement means China could miss its consumer price inflation target this year, analysts said, causing investors to focus on possible tightening measures ahead despite separate positive remarks about the price outlook he made at the weekend during a European tour. Wen's remarks followed a statement on Saturday by China's Vice Premier, Li Keqiang, who said that controlling inflation is the government's top policy priority. "I'm not too pessimistic about Premier Wen's statements on the CPI (consumer price index), since I'm sure the government will do its best to rein in prices in the longer term. But how the market reads this piece of news in the shorter term is another matter," Guo said. Wen also said on Monday that he saw China's GDP growth remaining above 8 to 9 percent. China released a comprehensive assessment of the debts of its local governments on Monday and barred those entities from borrowing any further, taking its first major step to reduce the risk of default and instability in the world's second-largest economy. "There is some risk in the sheer size of the debt held by local governments, but any fallout from it won't be immediate. In the short-term, it may be supportive of base metal prices given that it may cause the Chinese central bank to go slow on credit tightening," Yang of China Futures said. In industry news, Chilean copper giant Codelco expects output at its 600,000-tonnes-per-year Chuquicamata mine to fall by half in the coming years, and changes at the mine could lead to job losses before production is ramped back up, the company's chief executive said in a local newspaper on Sunday. Chile's government said on Friday it would return $376 million of state copper giant Codelco's 2010 profits to help meet the world No. 1 producer's financing needs. Base metals prices at 0724 GMT Metal Last Change Pct Move YTD pct chg LME Cu 8974.50 -75.50 -0.83 -6.52 SHFE CU FUT SEP1 66840 -1180 -1.73 -6.97 LME Alum 2494.00 -6.00 -0.24 0.97 SHFE AL FUT SEP1 16970 -70 -0.41 0.77 HG COPPER JUL1 405.60 5.75 -1.04 -8.64 LME Zinc 2234.25 -19.75 -0.88 -8.95 SHFE ZN FUT SEP1 17190 -265 -1.52 -11.73 LME Nickel 21900.00 -250.00 -1.13 -11.52 LME Lead 2545.00 -35.00 -1.36 -0.20 SHFE PB FUT 16770 -105 -0.62 -7.77 LME Tin 24925.00 0.00 +0.00 -7.34 LME/Shanghai arb 1167 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month Shanghai lead launched on March 24

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