Germany: If IMF goes, Greek program is over

Reuters report

According to a German Finance Ministry spokesperson, Germany estimates the IMF will remain on board the Greek fiscal adjustment program. When asked during a press briefing what would happen if the Fund decided to leave the program, spokesperson Juerg Weissgerber was blunt saying that in the event the program would be terminated. The Reuters report points out that Germany is Europe’s largest economy and while it wants the IMF to remain on the Greek bailout program to give the rescue program greater credibility it opposes the IMF’s recommendation for a large debt write off.

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