Greece: IMF chief Christine Lagarde threatens exit from Help – SPIEGEL ONLINE

The International Monetary Fund (IMF) suggests in the dispute over the Greek bailout to hard sounds. In a letter called IMF chief Christine Lagarde on the euro-zone countries to start negotiations on debt relief with Greece immediately. The relevant information of the “Financial Times” confirmed an IMF spokesman in Washington.

Debt relief should now immediately on the table, thus wrote Lagarde on the 19 Euro zone countries. Otherwise stand the involvement of the IMF questioned on the third support program for Greece.

The euro countries had agreed last summer on a third rescue package with aid credits worth up to 86 billion euros – and Greece saved from national bankruptcy. The IMF had ended its involvement at that time taken depends on whether the deal is such that the country’s debt is long-term sustainable.

Just because now there are apparently again considerable doubt. Discussions on further budget cuts in Greece totaling over three billion euros were fruitless, according to the letter. to achieve the agreement with the EU, medium and long term a budget surplus (excluding interest and debt repayments) of 3.5 percent of gross domestic product, is unrealistic.

This objective has to be revised down to 1.5 percent down. “Make no mistake about it – this higher target would not only be very difficult to achieve, it would be potentially counterproductive,” Lagarde wrote. To achieve 3.5 percent, Greece would save even more severe.

This Sunday the Greek parliament to pass a new austerity package. Already since Friday therefore protests and strikes run across the country. The euro zone finance ministers meet on Monday to discuss the situation.

On the side of the euro countries insisting especially Germany on strict adherence to the 3.5 percent target – at the same time wants Finance Minister Wolfgang Schäuble also reflect the IMF have on board. Even a haircut leaning Schäuble from.

If the dispute is not resolved in the coming weeks, threatens a similar drama as last summer, when Greece only narrowly avoiding state bankruptcy. This time it is, Greece need the latest by July fresh money the lender to repay its old debts on time.