Greece on brink as IMF repayment deadline passes

Greece has slipped further into the financial abyss after the bailout programme it relied on for five years expired and the country failed to repay an International Monetary Fund loan, deepening fears over whether it will be able to remain in the eurozone.

With its failure to repay the roughly €1.6bn to the IMF, Greece became the first developed country to fall into arrears on payments to the fund. The last country to do so was Zimbabwe in 2001.