9 May 2016
Eurozone: Finance minister meet today to discuss Greece - BBH
Research Team at BBH, notes that the Eurogroup of finance minister meet today to discuss Greece.
Key Quotes
“The problem is that the IMF did not participate in the funding of the third aid package last summer. The IMF’s involvement is essential for the Bundestag’s support. It says it willing to under certain conditions that the other creditors find unacceptable, including a write-down of the debt owed to the other official creditors (but not the IMF). Greece finds some IMF demands intolerable, like a contingency program of measures that will automatically be triggered when if Greece misses its fiscal target.”
Key Quotes
“The problem is that the IMF did not participate in the funding of the third aid package last summer. The IMF’s involvement is essential for the Bundestag’s support. It says it willing to under certain conditions that the other creditors find unacceptable, including a write-down of the debt owed to the other official creditors (but not the IMF). Greece finds some IMF demands intolerable, like a contingency program of measures that will automatically be triggered when if Greece misses its fiscal target.”