Overnight press: Greece faces losing IMF support unless big sovereign debt write off

The Financial Times reported overnight:

• Greece is so far off course on its $US172bn bailout programme that it faces losing vital International Monetary Fund support unless European lenders write off significant amounts of its sovereign debt
• The warning from Poul Thomsen, head of the IMF's European department, raises the prospect that the IMF may hold back its portion of a €7.2bn tranche of bailout aid
• Half of the €7.2bn, which is the subject of intense negotiations between Athens and its creditors in Brussels-based talks that resumed on Monday, is due to come from the IMF. Without the funds, Greece is expected to run out of cash this month.

More at the article (the FT is gated) IMF takes hard line on aid as Greek surplus turns to deficit