ROUNDUP: IMF urges euro zone debt relief for Greece – FAZ – Frankfurter Allgemeine Zeitung

WASHINGTON (AFX) – the International Monetary Fund (IMF), the euro zone countries prompted a letter to open negotiations on debt relief with Greece immediately. The relevant information of the “Financial Times” confirmed Friday an IMF spokesman in Washington. “I can confirm that there is the letter,” he says of the German Press Agency. The report in the newspaper he described as “N”.

Debt relief would now be “immediately on the table,” wrote IMF chief Christine Lagarde the “Financial Times” According to the 19 Euro zone countries. Otherwise, the participation of the IMF on the third support program for Greece is at issue. The euro zone finance ministers meet on Monday.

The discussions on further budget cuts in Greece amounting to three billion euros were fruitless. The agreement with the EU, medium and long term a budget surplus (excluding debt service) to generate 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.

The new aid package has a circumference of up to 86 billion euros. Greece needs in July new money when it has to repay billions in loans. So far, the IMF is not on board.

Especially Germany’s Finance Minister Wolfgang Schaeuble called for the IMF to be one of the party at the third Greek package. But Germany rejects a haircut ab./dm/DP/he

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