Lagarde Push for Greece Debt Relief Challenges Merkel
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Christine Lagarde, managing director of the IMF, ahead of a meeting of European finance ministers in Brussels, on July 11, 2015.
Now that Greece is eligible again for loans from the IMF, getting any more money from the fund may hinge on a test of wills between Christine Lagarde and Angela Merkel.
The bailout of as much as 86 billion euros ($95 billion) proposed by European leaders this month assumes financing from the International Monetary Fund and is conditional on Greece seeking a new loan program from the IMF once the current one expires in March. The Washington-based IMF, which requires borrowers to have sustainable debt, has made clear it won’t ask its 187 other member nations to approve a deal until euro-area states significantly ease terms on existing loans…
Lagarde Push for Greece Debt Relief Challenges Merkel
