Greece on brink as IMF walks out of debt talks
Negotiating teams from the International Monetary Fund (IMF) and the Greek government left Brussels yesterday, with the IMF blaming "major differences" and saying that no deal had been agreed.
A more amiable mood between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker on Wednesday had led investors to think that the Greek debt stand-off had come to an end.
The brief rally enjoyed by holders of Greek equities is now expected to dissolve this morning, after IMF spokesman Gerry Rice said: "The ball is very much in Greece's court."
Mr Rice added: "There are major differences between us in most key areas. There has been no progress in narrowing these differences recently."