IMF head Christine Lagarde stated on Thursday that if Greece does not pay its debts to the IMF on the 30th of June, the country will be considered bankrupt.

Mrs. Lagarde underlined that the 30th of June is the end date for Greece, since there is no possibility of an extension of the grace period on the deposition of June’s tranches, which amount to 1.5 billion.

Mrs. Lagarde reiterated that the country will be considered bankrupt starting on July 1st in this case but expressed her hopes that something like that would not happen.