HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » IMF says Greece needs ext...

Thu Jul 2, 2015, 03:45 PM

IMF says Greece needs extra €60bn in funds and debt relief

Source: The Guardian

The International Monetary Fund has electrified the referendum debate in Greece after it conceded that the crisis-ridden country needs up to €60bn (£42bn) of extra funds over the next three years and large-scale debt relief to create “a breathing space” and stabilise the economy.

With days to go before Sunday’s knife-edge referendum that the country’s creditors have cast as a vote on whether it wants to keep the euro, the IMF revealed a deep split with Europe as it warned that Greece’s debts were “unsustainable”.

Fund officials said they would not be prepared to put a proposal for a third Greek bailout to the Washington-based organisation’s board unless it included both a commitment to economic reform and debt relief.

According to the IMF, Greece should have a 20-year grace period before making any debt repayments and final payments should not take place until 2055. It would need €10bn to get through the next few months and a further €50bn after that.

Read more: http://www.theguardian.com/business/2015/jul/02/imf-greece-needs-extra-50bn-euros

7 replies, 1313 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 7 replies Author Time Post
Reply IMF says Greece needs extra €60bn in funds and debt relief (Original post)
herding cats Jul 2015 OP
geek tragedy Jul 2015 #1
Ed Suspicious Jul 2015 #2
cstanleytech Jul 2015 #3
Javaman Jul 2015 #4
AllTooEasy Jul 2015 #5
cstanleytech Jul 2015 #6
MrTriumph Jul 2015 #7

Response to herding cats (Original post)

Thu Jul 2, 2015, 04:09 PM

1. Whoa. When you're so fanatically pro-austerity that the IMF calls you

 

out in public, you've lost the plot.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to geek tragedy (Reply #1)

Thu Jul 2, 2015, 04:21 PM

2. Yes. Incredible.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to herding cats (Original post)

Thu Jul 2, 2015, 04:28 PM

3. They should add in reducing the interest to zero to because thats really the only way in hell that

Greece can probably repay the lenders.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to herding cats (Original post)

Thu Jul 2, 2015, 04:44 PM

4. I like this line...

"According to the IMF, Greece should have a 20-year grace period before making any debt repayments and final payments should not take place until 2055. It would need €10bn to get through the next few months and a further €50bn after that."

will that same "grace period" also include a suspension of interest?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to herding cats (Original post)

Thu Jul 2, 2015, 06:00 PM

5. Is the IMF going to loan Greece this money?


...with these favorable conditions?

Or is the IMF childishly playing the role of the instigator? Put your money where your mouth is, and directly help Greece out!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to AllTooEasy (Reply #5)

Thu Jul 2, 2015, 08:12 PM

6. I think the IMF is waiting to see what the vote on and to be honest I think that is a wise to do.

Hopefully though the IMF will help Greece and give them the time they need for their economy to recover and for them to make the changes that they need to make and to get their spending to a manageable level.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to herding cats (Original post)

Thu Jul 2, 2015, 08:26 PM

7. 5 months of insulting lenders has increased the amount needed by Greece.

Elections have consequences.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread