Greek PM convenes emergency meeting of his bailout negotiation team

Tsipras says technical talks with Greece's creditors would resume amid fears Athens is close to running out of money as a1.6bn IMF debt repayment looms

The high-stakes game of brinkmanship between Greece and its creditors intensified on Monday after prime minister Alexis Tsipras convened an emergency meeting of his political negotiation team following a stark warning from Athens that default was looming.

Amid mounting fears of financial collapse, Tsipras instructed officials to act speedily as his government sought to defuse tensions saying it would do its best to honour its debts - even if it failed to reveal how, exactly, it would find the money to pay a1.6bn in loans to the International Monetary Fund next month. Technical teams are set to resume talks in Brussels on Tuesday.

Related: Greece warns it is set to default on debt repayment loans