Germany’s finance minister has signaled confidence in Brussels before the meeting with his Euro-colleagues. However, for an agreement, he assumes the commitment of the IMF.
The euro zone finance ministers gather for their meeting in Brussels. | © Francois Lenoir / Reuters
The finance ministers of the euro countries have come together in Brussels to decide on a new aid program for Greece. Immediately before the Federal Finance Minister Wolfgang Schäuble (CDU) had said he was “very confident that we will now come to a conclusion.”
Before taking a decision but must be understood that the International Monetary Fund (IMF), which participate in the aid program, include up to 86 billion euros and is to be applied for three years. Schäuble called for “a clear commitment, a binding commitment possible”. This was “a prerequisite for us.”
The head of the IMF, Christine Lagarde, is to listen in to the conference via videoconference. “The IMF will conduct a review of its involvement in any further financing for Greece, once the steps to program the authorities and on debt relief are made,” Delia Velculescu said. She leads the charge of Greece IMF team.
The IMF requires the Euro countries beyond Greece to adopt debt. Such a move could “make Greek debt sustainable” Velculescu said. In a survey published in June, the IMF had indicated that Greece would be relieved -. With a haircut or a debt relief
The head of the Euro group, Jeroen Dijsselbloem, therefore also assumes that the meeting would take longer. The debt sustainability is still a cause for concern. The financial needs of Greece between August 2015 and August 2018 amounts to up to 86 billion euros,
reported the German press agency, relying on their present documents. After more than seven hours of debate, the Members of the Parliament in Athens had the third aid package for Greece agreed in the morning.
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