IMF and EU lock horns as Greece given debt extension

A conflict erupted between the IMF and European Union last night as it was announced Greece would receive a two year extension to meet its debt reduction target.

Christine Lagarde, managing director of the IMF, publicly clashed with eurozone finance ministers over the target for reducing Greek debt levels, the Telegraph reports.  Jean-Claude Juncker, president of the Eurogroup of finance ministers, announced Greece would be given an extra two years to meet its debt reduction target of 120% of GDP by 2022 instead of 2020. However, Lagarde was seen to shake her head and roll her eyes at the announcement that breaches the fund's condition Greek debt must become sustainable by 2020, the Telegraph reports. "We clearly have different views," sh...