(VOVworld) - Talks on ending the deadlock between Greece and its international creditors broke up on Sunday, with European leaders venting their frustration as Athens stumbled closer towards a debt default that threatens its future in the euro.

Greece Prime Minister Alexis Tsipras (Photo: AFP/ VNA)

European Union officials blamed the collapse on Athens, saying it had failed to offer anything new to secure the funding it needs to repay 1.6 billion euros (£1.15 billion) to the International Monetary Fund by the end of this month. The IMF’s chief economist, Olivier Blanchard, said that in order to reach the final deal, Greece must deal with its pensions system which now accounts for 16 percent of its burden of debt. Greece’s authorities criticized its creditors saying their demands were irrational and blaming the failure of the talks on the IMF.