Lagarde to propose IMF participation in Greece bailout

LUXEMBOURG: International Monetary Fund head Christine Lagarde will propose to the fund's governing board that it join the eurozone's massive bailout of Greece, ending a months-long feud that nearly sparked a fresh crisis.

"I would like to announce my intention to propose to the IMF's Executive Board the approval in principle of a new International Monetary Fund stand-by arrangement (programme) for Greece," Lagarde said in a statement after talks with the eurozone finance ministers in Luxembourg.