Mathematicians use “imaginary numbers” for abstract concepts such as the square root of -1. The EU seems to be using a similar trick in constructing a bailout for Greece.

Greece delayed repayment of an IMF loan yesterday and a deputy minister said Athens might call snap elections to break an impasse with lenders that threatens to push the country into bankruptcy and out of the euro.

Greek prime minister Alexis Tsipras had a conference call last night with the leaders of France and Germany to discuss progress in the talks between Athens and its lenders, officials said.

Greece should reach a deal with its eurozone partners and the IMF next week on a package of reforms, which will help to unlock remaining bailout funds, the country’s economy minister said yesterday.