The head of
the IMF has called on Greece's creditors to restructure the country's debt.
That - along with reform in Athens - would make Greek debt sustainable,
Christine Lagarde said in Washington.
Deutsche Welle, 8 July 2015
In comments
made at the Brookings Institute think-tank in Washington, D.C. on Wednesday,
the Managing Director of the International Monetary Fund (IMF) said Greece was
in an "acute crisis, which needs to be addressed seriously and
promptly."
Christine
Lagarde said a new plan moving forward to shore up Greek finances would require
reform in Athens, but it would also require concessions from the country's
creditors.
"The
other leg is debt restructuring, which we believe is needed in the case of
Greece for it to have sustainability," she said.
Earlier on Wednesday,
Greek Prime Minister Alexis Tsipras addressed members of the European
Parliament and asked for a "viable" agreement that " gives us a
sign that we are on a long-lasting basis exiting from the crisis, which will
demonstrate that there's a light at the end of the tunnel."
Tsipras's
speech came as the Greek government formally requested a three-year loan facility from the European Stability Mechanism, the eurozone's bailout fund for
European banks on the brink of collapse.
Germany's
conservative finance minister, Wolfgang Schäuble, has ruled out the possibility
of debt relief for Athens, fearing this would set a dangerous precedent for
other eurozone member states who receive aid money.
On Sunday,
Greek voters rejected a proposal put forward by Greece's international
creditors about continuing bailout funds in a referendum. However, that has
left Greece on the brink of bankruptcy and possible ejection from the eurozone.
Greece now
has five more days to reach an agreement with its creditors.
mz/jr (AFP, Reuters)
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