Sapin and Lew underline urgency for concluding Greek bailout review

14 April 2016
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The French Minister of Finance Michel Sapin and the US Secretary of the Treasury Jack Lew argued in Washington that ‘a lot of work’ is needed in Greece, on shortly before the arrival of their Greek counterpart Euclid Tsakalotos for the IMF’s Spring Meetings.

Both underlined the need to conclude the bailout program review as soon as possible, with the American official commenting that there is ‘a long way to go’ to until the bailout program review concludes.

Meanwhile, the chief of the European Stability Mechanism (ESM) Klaus Regling noted that the IMF’s involvement in the Greek program will be minor, estimating that it may amount to 10% of the program.

The ESM chief, who was participating in a Brookings Institute event, further elaborated that while the involvement is symbolic, it is nevertheless important.

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