The Presidential Daily Brief

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  1. Lagarde Shoots Down Greek Pay Delays

    No grace periods! That’s the message IMF chief Christine Lagarde delivered to Athens after it suggested delaying its next loan payment, due on May 12, of $806 million. The interchange is the latest red flag fueling fears of a “Grexit.” Greek officials have vowed to remain in the eurozone, but doing so will require getting their hands on $7.8 billion in loans. With soaring borrowing costs and little chance of finding funds elsewhere, Lagarde suggests that Greece quickly find favor with EU creditors by designing much-needed reforms.

    FT (sub), Bloomberg

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