Greece's latest financial emergency is both tragic and absurd

The Greek debt pile is larger than ever - and the solution seemingly ever more remote

It's that time of year again. Greece is running out of money. There are violent protests in Athens. Eurozone finance ministers are gathering in Brussels in an "emergency" conclave to decide what to do next.

The International Monetary Fund has already made it clear what it thinks should happen. It says Europe should cut Greece some slack by easing the terms of its bailout agreement and offering a solid dose of debt relief.

Related: Greek crisis: no deal on debt relief expected today - live updates