Bloomberg: 92% of European Economists in Favor of Greek Debt Relief

EU-public-debtIn a Bloomberg survey conducted from August 7 to August 14, 92% of 42 European economists argued that Greece should receive some kind of relief on its debt.

With the 86-billion-euro Greek bailout deal officially approved from both Greece and its creditors, the participation of the International Monetary Fund (IMF) in the program is still uncertain.

The IMF has been a staunch advocate for a Greek debt haircut since early July, something that the German government has repeatedly rejected.

However, German Chancellor Angela Merkel reiterated that there could be future discussions on some kind of debt relief, such as extended maturities and lower interest rates. She further noted on Sunday that the IMF chief Christine Lagarde’s precondition of Greek debt relief for the fund’s participation in the Greek bailout program will be met.

The Bloomberg survey also found that 90% of the economists believe that Greece will still be in the Eurozone by the end of 2016.