IMF attacks EU over Greek bailout

The International Monetary Fund (IMF) has attacked the bailout deal offered by eurozone leaders to Greece. The creditor said Greece’s public debt had become “highly unsustainable” and it needed relief from its debts. The BBC’s economics editor Robert Peston said the criticism was savage. The IMF suggested options including writing down the debt – a move most fiercely resisted by creditors. Greece owes about 10% of its debt - €1.6b (£1.1b) – to the IMF. It has missed two deadlines for repayment to the fund and is the first advance economy ever and the only EU country to do so, according to a news agency.