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After the disappointing news from the European Central Bank President, Mario Draghi, yesterday who ruled out the inclusion of Greece in the quantitative easing (QE) and the continued supply of cheap liquidity to Greek banks after August 20th, the International Monetary Fund is convening on Friday afternoon in its Washington headquarters to decide whether the Greek debt is sustainable.

The Eurogroup issued the following statement on Greece on Friday, after the conclusion of its meeting:

IMF Managing Director Christine Lagarde said the Fund will remain engaged in Greece in "some form", with the framework to be decided after a closely watched June 21 Eurogroup meeting, she told a press conference in Berlin.