Greece Bailout: IMF to be included

The mission heads of the International Monetary Fund, the European Commission, the European Central Bank and the euro zone’s ESM bailout fund are in Athens for talks for the next set of measures Greece must execute to be entitled for 1 billion Euros by the month end.

The IMF won’t be excluded from Greece’s bailout programme scrutiny, Eurozone administrators told Greece on Saturday after its prime minister Alexis Tsipras accused that the global lender was not playing a constructive role.

Alexis Tsipras complained the IMF of making improbable reform demands earlier this week, inciting a reaction from German Finance Minister Wolfgang Schauble, who announced it was not in Greece’s advantage to debate the fund’s involvement.

Eurogroup Working Group President Thomas Wieser reported that “There is no chance that the first review will conclude without the IM.”
“This is not my personal opinion or that of EU institutions, but a reality that occurs from the parliamentary procedures in some member states,” he added.

The IMF announced it would wait to see the result of Greece’s debt alleviation talks with EU partners before granting to insert new cash as part of an 86 billion euro (£62.07 billion) third bailout programme earlier this year.

Athens anticipates to kickoff debt alleviation talks in February after a fruitful conclusion of the latest bailout’s first scrutiny that includes a painful pension reform.

European Stability Mechanism (ESM) chief Klaus Regling, announced on Saturday that the IMFwould engage in Greece’s bailout with a small contribution, as this was agreed in July.

The ESM chief said the organization aimed to re-sketch Greece’s debt and even out servicing reimbursements to make it feasible and captivate investors.

He further added “We will aim to straighten the profile of the debt. If we manage to prolong a little extra the period of the already very low repayments, then we will captivate investors.”

Greek finance minister Tsakalotos broadcasted earlier this month that he saw a 50-50 probability of Greece tapping capital markets by the 2016 end – the first time it would do so since it was boycotted from them in 2010.

Prime Minister Alexis Tsipras’ government wants to expedite consultations and open the way for talks on debt alleviation, searching pressingly to satisfy Greeks that their sacrifices will be exalted.

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