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German Magazine Reports on European Officials Trying to Lure IMF into Greek Bailout

imf-headquarters.siGerman newspaper Der Spiegel reports that European leaders are trying to persuade the International Monetary Fund to participate in the new Greek bailout by considering a new approach towards the Greek debt.
The three year 86 billion euro Greek bailout was agreed to in late August. Despite its participation in the first phase of Greek bailouts, the IMF has yet to confirm its complete participation as it has expressed its reservations about two issues. Firstly, the implementation of the bailout’s prescribed reforms by the Greek government and secondly debt relief for Greece.
European leaders, particularly German officials, have repeatedly struck down any potential for debt restructuring. On the other hand, they have also expressed their desire that the IMF participate in the Greek program.
Der Spiegel reports that European leaders are now considering a new way of estimating the Greek debt‘s sustainability, specifically establishing a relationship between a country’s economic capabilities, the repayment of its debt, and payments on interest. The magazine notes that the IMF has previously suggested that this way of estimating debt sustainability could work better, specifically in Greece’s case.

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