Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

South Africa : 20 children killed in a bus crash near Pretoria

Read more

MEDIAWATCH

An Election in the Shadow of Terror

Read more

#TECH 24

How fintech is helping the unbanked

Read more

FRANCE IN FOCUS

Turning up the heat with French firefighters

Read more

THE WORLD THIS WEEK

Champs-Elysées attack: What impact on Sunday's French election? (part 1)

Read more

THE WORLD THIS WEEK

After Brexit and Trump: World waits on French presidential election (part 2)

Read more

REPORTERS

Battle to stop nuclear waste being buried in a French village

Read more

THE CAMPAIGN BEAT

After Champs-Élysées attack, security takes centre stage in election campaign

Read more

PEOPLE & PROFIT

Brexit: Come what May

Read more

france 24 Business

IMF’s Lagarde issues call to ‘get real’ on Greek crisis

© FRANCE 24 screengrab

Video by FRANCE 24

Text by FRANCE 24

Latest update : 2016-04-15

In an exclusive interview with FRANCE 24 Thursday, IMF chief Christine Lagarde called on the international community to “move forward” on trying to solve the Greek crisis by adopting realistic measures.

“We believe everyone has to get real and focus on the real measures, on realistic objectives – particularly in the medium to long term – and on a real debt operation,” explained Lagarde. “If those three factors are combined, there’s no reason why we can’t move forward. But real reforms have to take place, they cannot be a quick-fix that works for one year or two.”

Lagarde’s interview with FRANCE 24 in Washington, DC, came as Greece tussels with the EU over its bailout programme fund and the 28-member bloc attempts to enforce the crippling reforms it has demanded of Athens.

Greece needs more financial support and relief to avoid failing to meet its debt obligations under its third financial rescue programme this decade.

The IMF has worked with the EU on two previous bailouts but said it would not participate in the latest plan without credible reforms and an EU agreement to ease Greece's debt burden.

But speaking on the sidelines of the IMF’s annual Spring Meetings, Lagarde insisted the crisis would not reach the “boiling point” as it did last year. “There won’t be a showdown because there’s more work to be done,” she said. “The real objective is to move forward ... We have repeatedly said the Greek economy needs to walk on two legs: one was real reforms, particularly on pensions, income tax reforms and on the governance of banks. And on the other hand – other leg, if you will – has to be a debt operation that lightens the burden of debt on Greece. The two have to come together.”
 

Date created : 2016-04-14

  • GREECE

    IMF chief says 'good distance away' from Greek debt deal

    Read more

  • GREECE - FRANCE

    ‘France to stand by Greece to lighten debt burden’, says Hollande

    Read more

  • EUROZONE - GREECE

    Eurogroup approves third bailout for debt-ridden Greece

    Read more

COMMENT(S)