By Jonathan Davies

Greece has vowed to remain part of the eurozone, despite delaying a €300 million repayment to the International Monetary Fund (IMF).

It was due to make the payment today (5 June), but Prime Minister Alexis Tsipras has told the IMF that the country will bundle all of June's repayments into one large €1.5 billion block at the end of the month.

The country's economy minister George Stathakis said: "We have a mandate from the Greek people to go on, to try to change the terms of the agreement. Greece has to remain in the euro, otherwise we do not have any mandate to take action.”

The €1.5bn bulk payment will be made on 30 June, the day that the current bailout deal expires.

An IMF spokesperson said there was a precedent from the 1970s to allow a country to merge "multiple principal payments falling due in a calendar month... to address the administrative difficulty of making multiple payments in a short period".

Greece and its creditors - the EU, European Central Bank (ECB) and IMF - have been locked in talks for months in attempts to agree a deal for the release of the final tranche of Greece's €240bn bailout.

It is thought that without the €7.2bn, Greece will completely run out of money.

Greek officials have said that a deal is "in sight", but the creditors remain more sceptical, saying that the differences between the two sides are "still quite large".