NEWS

Greece seeks allies ahead of Eurogroup as IMF seen losing confidence

TAGS: Politics, Economy

The government was still licking its wounds on Friday after the disappointment at Monday’s Eurogroup but was reportedly busy planning for the next gathering of eurozone finance ministers on June 15 aiming for the best possible deal.

With this in mind and in search of alternative proposals to break the deadlock with its international creditors, Athens is banking on the support of countries such as France and Italy which threw their weight behind Greek positions at Monday’s Eurogroup.

The participation of the International Monetary Fund and its demand for Greece’s debt to be made sustainable remains a thorn in discussions as Germany and the IMF are at odds as to when and how this will happen.

However, it’s not just Germany’s positions on Greek debt that are holding back the Washington-based organization, but the lack of trust in the Greek government and its commitment to implement reforms, according to a high ranking IMF official cited by CNBC news channel on Friday.

“If we had a Greek [Emmanuel] Macron, then we’d join [the Greek bailout] right now,” the official said.

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