Greek default possible after 30 June, IMF says

The International Monetary Fund will not be flexible on the 30 June deadline when Greece’s next debt payments fall due.

At the Fund’s weekly press briefing the Washington-based lender said no leniency would be granted if a deal were “close”.

It added that the IMF’s board would be notified “promptly” of any delays. Once it is notified, debt arrears can trigger a default on the Eurozone’s bailout bonds.

Nevertheless, the Fund added that Europe “must” offer debt relief to the stricken nation.

However, “Athens must act first”, it added.