BUSINESS

EWG chief douses Grexit speculation

TAGS: Economy, Politics

Euro Working Group (EWG) head Thomas Wieser has said he believes the International Monetary Fund (IMF) will participate in Greece’s bailout program, while dousing speculation of a Greek exit from the euro area.

“There are plenty of indications from IMF chief Christine Lagarde that they are still determined to participate in the Greek program. There’s no reason to doubt it now,” Wieser told the EurActiv news website in an interview Tuesday.

He said that the real time pressure for an agreement on Greece was dictated by what damage further delay would do to the Greek economy.

“Growth, private investment in companies and private consumption are all at stake,” he said.

The EWG head brushed aside talk of a Greek euro exit as unhelpful speculation.

“In our circles, no one thinks that would solve anything. No one wants it and it’s not feasible or advisable. It’s a non-issue,” he said.

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