EU, IMF Clash Over Greek Bailout Handling

EU, IMF Clash Over Greek Bailout Handling

The European Commission clashed with the International Monetary Fund on Thursday over how they handled the first Greek bailout, Reuters reported.

"I think we would all agree that some things could have been done differently," Reuters quoted IMF spokesman Gerry Rice as saying.

One such issue, according to the IMF, was the restructuring of Greek privately held debt already in 2010. "An upfront debt restructuring would have been better for Greece although this was not acceptable to the euro partners," the IMF said in a report.
The European Commission, however, said it had a very different view from the IMF on the feasibility of an early Greek debt restructuring. "The (IMF) report argues that an upfront debt restructuring in 2010 would have been desirable. We fundamentally disagree," Commission spokesman Simon O'Connor said, as quoted by Reuters. The Commission also stressed that the first,110 billion euro rescue for Greece had been arranged in extremely difficult circumstances.
Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.