Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

Verizon set to buy Yahoo's internet business

Read more

IN THE PAPERS

As Democrats gather, Russian subplot sparks intrigue

Read more

IN THE PAPERS

Bernard Cazeneuve, the political punching bag

Read more

THE INTERVIEW

Erdogan to rid Turkish institutions of ‘separatist cancer’ after coup attempt

Read more

ENCORE!

The best of summer music festivals in France

Read more

FRANCE IN FOCUS

Going for gold: French athletes train for Rio Olympics

Read more

#TECH 24

Digital beauty

Read more

FOCUS

Women doctors in Pakistan challenge the status quo

Read more

BUSINESS DAILY

Trump hopes to reset America's trade relations

Read more

Europe

IMF chief urges EU to find agreement on Greek bailout extension

Text by News Wires

Latest update : 2010-12-07

International Monetary Fund (IMF) chief Dominique Strauss-Kahn (pictured) has said that the terms of Greece’s bailout package should be reviewed to extend the repayment period, but insisted that the IMF and the EU needed to settle the issue jointly.

AFP - The European Union and the IMF should reach agreement on extending the repayment period for a 110-billion-euro three-year rescue loan accorded Greece last May, IMF head Dominique Strauss Kahn said Tuesday.

Strauss-Kahn, speaking after meeting Greek Prime Minister George Papandreou, said he backed an extension but added that a decision should be taken jointly by the EU and the International Monetary Fund.

The EU contributed two-thirds of the 147-billion-dollar package and the IMF a third.         
Strauss-Kahn said he noted that support for an extension had grown within the EU but the initiative has met German reservations.
             
Greece last week said eurozone finance ministers had "opened the way" to an extension as a means of aligning Greek repayment conditions with those of Ireland, which has also received an EU-IMF bailout.
 
A senior Greek finance ministry official has said an extension to 2024, as opposed to 2015 currently

 

Date created : 2010-12-07

  • ECONOMY

    Ireland, Portugal and Greece worry eurozone ahead of talks

    Read more

  • GREECE

    IMF, EU warn of risks despite Greek progress to tackle debt

    Read more

  • ECONOMY

    Greece defends debt measures, rules out restructuring

    Read more

COMMENT(S)