06-14-2015, 12:01 AM
The International Monetary Fund dramatically pulled out of talks with debt-stricken Greece on Thursday after it accused Athens of failing to compromise over labour market and pension reforms. The Washington-based lender of last resort said its team of negotiators had quit talks in Brussels after reaching a stalemate and would be returning to Washington.
IMF walks out of Greece bailout talks | Business | The Guardian
While the government has shown resourcefulness to last as long as it has without defaulting, Tsipras's actions have taken a visible toll on Greece's economy, banking system and markets. An immediate gauge of the cost comes in plunging market capitalization of the Athens Stock Exchange.
Greece Counts Cost of One Man's Gamble - Bloomberg Business
With financial doomsday drawing ever closer in Athens, everyone from creditors and investors to depositors is increasingly focusing on what's next. Some things are clear: Greece owes the International Monetary Fund about $1.7 billion this month. In July and August, the European Central Bank is due almost 6.8 billion euros ($7.6 billion). The euro-area backed bailout program expires on June 30, with creditors refusing to release up to 7.2 billion euros in remaining funds before Athens complies with belt-tightening conditions.
Greece Crisis: What Happens if There's No Debt Deal - Bloomberg Business