IMF Attacks EU Over Greece Bailout Terms

The IMF says Greece's debts are "highly unsustainable."
The IMF says Greece's debts are

The IMF says Greece’s debts are “highly unsustainable.”

The International Monetary Fund (IMF) has fiercely criticised the bailout deal offered to Greece by the eurozone. It said Greece’s public debt was now “highly unsustainable” and urged debt relief on a scale “well beyond what had been under consideration to date.” One senior IMF official said the fund would only participate in a third bailout for Greece if European Union creditors produce a “clear plan.” The current deal “is by no means a comprehensive detailed agreement,” the official said. The IMF also said it regarded forecast rates of growth for Greece as unrealistically high. It’s analysis released on Tuesday night pointed to Greek government debt reaching a peak of close to 200% of GDP or national income – over the next two years, which it called “highly unsustainable.” The IMF assessment makes it much harder for Mr Tsipras to persuade the Athens parliament to back the measures needed in Wednesday’s votes. It brings into question the validity of the reform measures demanded by the eurozone and endorses the kind of debt write offs the Greek public have been arguing for.

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Chukwunonso Azinge is a Public health parasitologist whose variety of intrests ranges from international news reportage, writing articles on current world issues and of course football. Follow me on Twitter @azingelfc and on Facebook- Nonso 'King Kenny' Azinge.

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