IMF steps up Greek bailout criticism over debt relief package

Christine Lagarde's comments echoed earlier concerns that proposals will fail unless measures go far beyond what the eurozone has offered so far

The International Monetary Fund has stepped up its criticism of the Greek bailout proposals, warning that the plan "categorically" will not work without substantial debt relief.

The head of the IMF, Christine Lagarde, said in an interview on France's Europe1 Radio that only a "complete package" would receive the backing of the body, which is one of three creditors in the proposed Greek deal. Asked if the plan devised by Greece's eurozone creditors could succeed without debt relief, Lagarde said: "Categorically, no."

Related: IMF appears to be only one looking out for Greece's long-term future