Only two weeks before the crucial June 15 EuroGroup, and the rift between the IMF and Germany on how to address the Greek matter appears to be widening. The International Monetary Fund (IMF) refused to comment on the harsh criticism it received by German Finance Minister Wolfgang Schauble, who claimed its estimates over the growth rate of Greece were unrealistic while its economic programs had been futile. “At this point we are squabbling with the IMF about what the correct estimate for growth in Greece is for the next 40 to 50 years. Currently the IMF is not ready to accept over 1% for the following 40 years”, said the German Finance Minister, adding in a sarcastic tone “Which explains why all of its [IMF] were futile”. Mr. Schauble will meet with the President of the European Commission (EC) Jean Claude Juncker in Berlin Thursday to discuss the Greek matter.
Schauble says IMF programs failed