A report from the German newspaper Bild brings forth an important development: Wolfgang Schäuble is seems to be preparing for the day after the IMF leaves the Greek program.

According to the report the German Ministry of Finance is processing all the important details necessary for a possible new voting in the Federal German Parliament in case the IMF denies to participate to the funding of the Greek program as it is.

Wolfgang Schäuble seems to be convinced that the ESM can cover the role of the IMF in the program. If this is going to happen then the government would like the new program to be voted before the federal elections that are due on September.