German Finance Minister Wolfgang Schauble said that if Greece failed to complete the second review on the current bailout program and the IMF decided to depart, this would render the plan obsolete.
In an interview to Wall Street Journal, and using a strict tone, the German Finance Minister underlined that the current bailout program had been agreed upon with Greece with the condition that the IMF would continue to be on board, warning the Greek government to avoid adopting hard line against the Fund, as this would mean a new program would have to be drawn up.
“The German parliament will have to discuss and agree whether it approves or rejects such a new program”, he underlined.
Greece is currently under immense pressure, as it has failed to reach a deal with its European creditors on the completion of the second review, which would release a much needed sub-tranche, while at the same time the IMF has expressed its open disagreement with the European institutions, questioning the 3.5% target surplus provided in the plan and the sustainability of the Greek debt.