Washington Group meeting fails to reach deal on Greek debt

A meeting of the so-called Washington Group – representatives of Greece’s creditors as well as the governments of Germany, France, Spain and Italy, the biggest eurozone economies – failed to break a deadlock on Greek debt as the International Monetary Fund (IMF) and Berlin remain divided on the length of upfront extension on bailout loans.

Talks will continue on the sidelines of a G7 leaders’ summit in Canada in early June.

An agreement on the easing of Greece’s debt will allow for the immediate participation of the IMF in the Greek program.