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Podgornik, Branko

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Novi list - Croatia | 01/08/2015

IMF members rebel against saving Athens

The International Monetary Fund will only participate in a third bailout package for Greece if the creditors in Europe agree to more debt relief, an IMF spokesman emphasised on Thursday. The centre-left daily Novi list backs this position: "Internal regulations forbid the IMF from saving countries in debt who cannot pay their debts because that would be shovelling money into a bottomless pit. When the IMF supported defaulters in past decades, its (successful) restructuring programmes always started off with debts being waived. But the IMF did not keep to this basic rule with Greece. This has resulted in resistance among the 187 IMF member states, and from Asia in particular. The whole world, including many countries that are less developed than Greece, are helping with this absurd rescue of Greece with their contributions. Only because wealthy Europe, and above all Germany, refuses to cancel the debt and is trying to squeeze every last bit from the debtor instead."

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