Nikos Voutsis, Greece’s Interior Minister, said on Sunday that his country had ‘no money’ to repay a series of debt installments to the IMF. The repayments are to begin on June 5 and total a staggering 1.6 billion euros ($A2.3 billion).

Mr Nikos’ comments have sparked fresh concerns that Greece may be about to exit from the Eurozone.

IMF chief Christine Lagarde said, in the daily Frankfurter Allgemeine Zeitung, that should Greece choose this path their exit would not be ‘a walk in the park’; even then, their departure would not spell the end of the euro.

“It’s a complicated issue and it’s one that I hope Europeans will not have to face, because hopefully they will find a path to agree with the future of Greece within the Eurozone,” said Ms Lagarde in a statement intended to clarify her interview with the German newspaper.

Ms Lagarde also rejected an assertion by Athens that a deal had been brokered with its creditors.

“It is very unlikely that we’ll reach a comprehensive solution in the coming days.

The IMF is holding firm on not providing Greece with further funds until the debtor nation makes clear its pledges on reform and repayment.

“We have rules. We have principles,” said Lagarde. “There will be no half-baked program review.”

“Any country that doesn’t meet its commitment with the Fund,” said IMF spokesman William Murray, “is declared in arrears and they have no access to IMF funding.” He added that he expected Athens to honour its repayments.

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