IMF

An agreement on Greece will require "difficult decisions by all sides," the IMF said, after last-ditch talks between cash-strapped Athens and its EU-IMF creditors ended with no deal on Sunday.

IMF chief economist Olivier Blanchard made the comments in an official blog, saying that there were "tough choices and tough commitments to be made on both sides," amid growing fears that the Greek government is heading into the financial abyss.