Lagarde reiterated the Fund’s view that it will not participate in the Greek bailout programme

In the sidelines of a press conference ahead of the annual IMF meeting in Washington on October 7-9, Mrs. Lagarde reiterated the Fund΄s view that Greece΄s debt is not sustainable adding that the prerequisites of the Fund’s participation in the Greek program have not changed. She stressed that Greece has implemented some reforms but still lots of work still needs to be done, while the IMF mission for Greece will return to Athens in about two weeks to help out with the second review of the ESM programme.

In other related news, the US Treasury Secretary Mr. Lew said the debt restructuring is needed for Greece: “We have been involved in Greece’s matters and its debts for a long period of time. Thankfully, we are not in a phase of a direct crisis. The issue is what we can do to avoid putting ourselves in a situation of a crisis again. It is important that in the last agreement of Eurozone with Greece, it was decided that the restructuring of the debt should be on the table”.

Source: capital.gr