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Lagarde: No extension of IMF repayment deadline

Christine Lagarde, head of the IMF, attending the Eurogroup taking place in Luxembourg threw a spanner in the works of ongoing development today.

In particular, she stressed that there is no grace period for Greece in terms of payment of installments to the IMF at the end of June (1.6 bn euros).

At the same time, she pointed out that the program for Greece must be credible and backed by investors and the international community. On the pension system of Greece, she stated that it must be reformed by Greece and also protect pensioners. Indeed, she spoke of a "smart approach" to be taken on the subject of Greece, the IMF and the Eurozone. She pointed out that the IMF continues to participate in the discussions around the Greek issue.

As for the notorious question of the extension, after 30 June, of the repayment time for installments, she said: "The 30th of June is a final and closing date. There is no grace period of one or two months, as I have heard, and no possibility of delay. I hope, however, that this will not happen. "