Greece will be in default with the International Monetary Fund on July 1 if it fails to make a repayment on June 30 because there is no grace period or possibility to delay it, IMF Managing Director Christine Lagarde said on Thursday. "It will be in default, it will be arrears vis-a-vis the IMF on July 1 but I hope it is not the case, I really do," Lagarde told reporters following a meeting with the Luxembourg finance minister.
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