Troika: Greek risks remain very large

A row between the IMF and the EU over Greece broke into the public last night as the two bodies differed on when Greece’s debt should be down to 120% of GDP.

Eurogroup chairman Luxembourg prime minister Jean-Claude Juncker insisted that Greece would be given an additional two years to 2016 while IMF chief Christine Lagarde sitting beside him at a press conference shook her head, saying it would remain at 2012.

Afterwards officials said that Mr Juncker was “a little premature” as they did not wish to announce the two extra years until next week when they hold another meeting on Greece.