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IMF challenged by Greece due to debt transcript leak

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Greece demands that the IMF provides an explanation concerning a conversation that has been leaked in which top officials are alleged to be discussing Greek bailout.

Wikileaks published a transcript in which officials discussed the manner in which they can pressurize Germany, Greece and the European Union so that they can wind up talks.

During the conversation, an official is quoted saying that a “crisis” event may be a necessity in this case.

It is expected that there will be more negotiations next week between Athens and its lenders.

In an aim to avoid becoming bankrupt and get stuck in the eurozone, Greece admitted a multi-billion dollar bailout last year with IMF and EU.

The conversation held by Wikileaks is reported to involve IMF’s Europe dept head, Poul Thomsen and the leader of IMF team in Greece, Delia Velculescu. These are the senior officials that are leading Greece’s Debt crisis.

Mr. Thomsen is quoted complaining about the slow speed at which Greece is implementing the reforms it agreed to carry out so that it can be bailed out.

“What is going to bring it all to a decision point?” he asks.

“In the past there has been only one time when the decision has been made and then that was when they were about to run out of money seriously and to default.”

Later on, Ms. Velculescu says that “we need an event, but I don’t know what that will be”.

As they proceed talking to each other, Mr. Thomsen suggests that the IMF can withdraw from the bail out and this would make German Chancellor Angela Merkel to accept a Debt Relief.

“Look…, Mrs Merkel, you face a question, you have to think about what is more costly: to go ahead without the IMF, would the Bundestag say ‘the IMF is not on board?’ or to pick the debt relief that we think that Greece needs in order to keep us on board? Right?” Mr Thomsen says.

The IMF has refused to comment regarding the purported leaks but has said that the public is well aware of its position.

The post Imf Challenged by Greece due to Debt Transcript Leak appeared first on International inside.



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IMF challenged by Greece due to debt transcript leak

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