IMF and Eurozone finance threaten to walk out on Greece over debt relief
Things are not looking up for Greece as both the IMF and eurozone finance heads warn the country could be left cash-strapped once again.
The two sides have not yet reached a debt relief agreement; this would be the third package for Greece since 2010.
“There are still significant gaps on the issue of debt relief,” an official told Reuters. “The [deputies group] was never likely to close this gap. It will have to happen at a higher level.”
Meanwhile, Germany insists the European Commission’s approach to Athens is rather lenient, asking the IMF to apply pressure on Greece and demanding a strict upfront commitment.
“The IMF wants maximum [debt relief] commitment upfront, while others would prefer to be more precise only in 2018.”
The Greek government states that it has met its obligations, having made necessary cuts, according to neoskosmos.
At the same time there might be a symbolic bond issue for Greece in July, signalling an “exit course from the crisis and the bailout” however, the European Central Bank is not yet convinced.
You may be interested
“Athens is one of the last cities in Europe that can still be old, weird & chaotic”Panos - Mar 19, 2018
At a time when the mainstream narrative is all about how Greece’s ‘best and brightest’ minds have been fleeing the…
Explore the beauties of mainland Greece!Panos - Mar 19, 2018
Greece is a beloved destination and in addition to the more familiar islands, the mainland offers plenty of options for…