VIDEO: The IMF Walks Out of Greece Bailout Talks

The International Monetary Fund pulled out of negotiations with Greece on Thursday after it accused Athens of refusing to compromise over labor market and pension reforms.

The Guardian reports:

The Washington-based lender of last resort said its team of negotiators had quit talks in Brussels after reaching a stalemate and would be returning to Washington.

The move left the Greek negotiating team with no option but to say it would also be leaving the talks and heading home to Athens.

“The ball is very much in Greece’s court,” IMF spokesman Gerry Rice said. “There are major differences between us in most key areas. There has been no progress in narrowing these differences recently.”

The IMF’s decision followed increasingly sharp criticism from EU officials frustrated at the Greek government’s continued refusal to bow to creditors’ demands.

— Posted by Alexander Reed Kelly.