EU issues final warning to Greece as last-ditch talks achieve nothing

The blunt language came as the International Monetary Fund pulled its officials out of the talks, citing a failure to break the deadlock after four months of wrangling. "There are major differences between us in most key areas. There has been no progress in narrowing these differences," it said.''

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Bizarrely, the Athens stock market soared 8.2pc in a wave of euphoria, swept by unsubstantiated rumours of a breakthrough that left Greek officials scratching their heads.