Greek debt: IMF leaves talks amid 'major differences'

Greece's international creditors have raised the pressure on the Athens government, as IMF negotiators left talks in Brussels and flew home.

Major differences remained and they were "well away from an agreement", IMF spokesman Gerry Rice told reporters.

Greece is seeking a cash-for-reform deal, to avoid defaulting on a €1.5bn debt repayment to the IMF.

But the European Council president said there was no more time for gambling and the game would soon be over.

"The Greek government has to be, I think, a little bit more realistic,'' Donald Tusk said.

Greek Prime Minister Alexis Tsipras held talks with European Commission head Jean-Claude Juncker in Brussels on Thursday afternoon but little progress was made.

He also held a late-night meeting with the French and German leaders on Wednesday, after which Mr Tsipras said they had decided to intensify talks.

The EU and IMF are unhappy with the extent of economic reforms the Athens government is offering in exchange for the release of a final €7.2bn (£5.3bn) in bailout funds. Their bailout deal with Greece runs out at the end of June.

Mr Tsipras's left-wing Syriza party came to power in January on an anti-austerity platform.

'Happy ending'

IMF's Gerry Rice in Washington said there had been "no progress" in narrowing differences during the talks between IMF and Greek negotiators in Brussels, and both teams had packed up and left for home.

But he stressed that "the IMF never leaves the table. We remain engaged - but the ball very much is in Greece's court right now."

He said the sticking points remain pensions, taxes and financing.

Analysis: BBC's Chris Morris in Brussels

Alexis Tsipras is coming under huge political pressure to agree a deal that will give his government access to further funding, in return for further spending cuts, tax rises and economic reforms. Without a deal, Greece is heading for bankruptcy and possible exit from the euro.

One possible solution under discussion would be to extend Greece's current bailout deal, which expires at the end of the month, until March next year.

But the government in Athens would still need to commit to reforms that run counter to the promises it made when it was elected in January.

The latest comments from the IMF are a sign of how difficult this process is.

Sometimes in negotiations, the rhetoric gets tougher just before a deal is done.

Some EU officials still hope there could be a face-saving agreement at a meeting of eurozone finance ministers next week. But no-one is betting on it.

Greek spokesman Gabriel Sakellaridis said in a statement that government negotiators were ready to intensify talks "even in the coming days" and would carry on working on the remaining issues "such as the fiscal issue and the sustainability of the debt".

Earlier in the day, Greek stocks had soared by more than 8% after EU Commissioner Pierre Moscovici said a debt deal was close and needed a "happy ending".

However, as the mood darkened, stock markets elsewhere began to retreat. By then, the Athens market was already closed.

One EU diplomat called the meeting between Mr Tsipras and Mr Juncker a "last attempt" to reach a debt deal.

"If the process was working properly the president would not have had to have a meeting with Tsipras today," he was quoted as saying.

Mr Tsipras told reporters after meeting Mr Juncker that they were "working in order to bridge the remaining differences" and reach an agreement "which will ensure that Greece will recover with social cohesion and viable public debts".