Greek deal frays as IMF threatens walk-out on debt buy-back impasse

The International Monetary Fund said on Thursday that it would not disburse funds under its part of the EU-IMF package unless the eurozone delivers on a bond "buy-back" scheme, which is supposed to cut Greece’s burden by 10pc of GDP and is deemed crucial for restoring long-term viability.

If the IMF withdraws, Finland and Holland will also pull out of the programme. "This has become a really big problem," said Raoul Ruparel from Open Europe.

Read more: http://www.telegraph.co.uk/finance/financialcrisis/9712612/Greek-deal-frays-as-IMF-threatens-walk-out-on-debt-buy-back-impasse.html