Greeks Admit They Will Default at the End of the Month as Central Bank Turns on Government

The Greek government has admitted it will become the first developed country in history to default on the International Monetary Fund if its creditor powers fail to strike a deal with the Leftist government over its eurozone future in the coming days. With just 13 days before the country’s bail-out programme officially expires, finance ministers will gather in Luxembourg on Thursday to discuss whether to finally give assent to release bail-out cash and stave off an unprecedented default. Before the 11th hour attempt to secure a deal, Athens’ chief negotiator said his government had run out of cash to make a €1.6bn payment to the IMF, also on June 30.