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French President: IMF Chief was in Favor of Grexit

tsipras_imf_lagardeInternational Monetary Fund Managing Director Christine Lagarde was in favor of Greece exiting the euro zone because its debt is unsustainable, wrote French President Francois Hollande in his new book entitled, ‘A President Shouldn’t Say That’.
“Lagarde is in favor of a Grexit. She has told me so. With arguments we can understand. She believes that Greece cannot stand on its feet with all the obligations piled upon it and with such a high debt. The best way is to be suspended from the euro zone,” the French president wrote referring to the negotiations between the Greek government and creditors in the spring/summer of 2015.
Hollande further wrote that Lagarde was insisting that there should be a debt haircut for Greece, something that the Germans opposed.
In another part of the book, Hollande wrote that the Germans were in favor of a Grexit as well, irritated by Alexis Tsipras’ hesitation to implement the required reforms.
“(I am) afraid that the Germans, exasperated by Tsipras’ reluctance, they will throw the Greeks out of Europe, whatever concessions they (the Greeks) will make,” he wrote.

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