Greece's IMF Repayment Delay Smacks of Both Desperation and Defiance

You could almost hear the gritted teeth through which the International Monetary Fund issued its terse statement acknowledging that Athens planned to miss Friday’s deadline for making a €300m (£219m) debt repayment. The Washington-based lender, which was always wary about being dragged into Europe’s debt crisis, didn’t condemn Greece’s actions, let alone suggest that deferring the payment was tantamount to default. Even with the rest of the month now apparently available to secure a deal, the distance between Greece and its creditors remains considerable, as leaked negotiating texts from both sides suggested on Thursday.