Greece bailout 'credible' despite IMF criticism: EU

The EU on Tuesday firmly maintained that Greece's economy remained on track despite a withering opinion by the IMF that Athens needed major deep debt relief and less austerity to prosper. A standoff between the eurozone and the International Monetary Fund has dragged on for months, raising fears of a new debt crisis and sparking fresh talk of Greece tumbling out of the euro. The fund and the 19-nation single currency area are battling over how much debt relief Greece needs, and over economic tar