Greece will need debt relief along with deep security fund reforms in order for the pension system to be sustainable, said International Monetary Fund Managing Director Christine Lagarde.
The IMF head gave a web press conference where she was asked, inter alia, if the Fund is blocking negotiations between Greece and creditors by raising strict demands on security fund reforms.
Lagarde said that the less deep are the pension fund reforms in Greece, the greater the necessity for more debt relief provided by the European institutions.
“I have always said that the Greek program has to walk on two legs: one leg is the one of significant reforms and the other one is a debt relief. We persist on that view if the pension reform cannot be as significantly, substantially deeply reformed as needed, it will mean more debt relief on the other side,” she said.
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