Saturday, April 18, 2015

IMF Official Sees Greek Bailout Needing Several More Weeks of Talks

Wall Street Journal
April 17, 2015

Negotiations over fresh emergency financing for Greece are likely to take several more weeks, even though the cash-needy government in Athens requires a deal to help it meet a big increase in debt payments due in June, a senior International Monetary Fund official said Friday.

The IMF official’s comments come as the U.S., worried that Greece’s worsening financial crisis could spell trouble for a fragile global economy, urged Greek officials in private meetings to reach a deal that would satisfy Athens’ creditors.

“There’s no time to waste,” U.S. Treasury Secretary Jacob Lew said after a meeting with Greek Finance Minister Yanis Varoufakis. “If there is a crisis, it will first hit Greece, and it will hit the Greek people very hard. But it is something that the European and global economy doesn’t need, to have another crisis.”


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