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Lagarde suggests eurozone may give Greece more time, money

International Monetary Fund managing director Christine Lagarde has suggested that the cost of a Greek euro exit would be so great that other eurozone members may be willing to give Greece more time and money to complete its fiscal adjustment.

"It may well be that members of the eurozone will be prepared to support financially more and maybe longer the Greek country and population to stay within the zone,» Lagarde said in an interview with the BBC's Today program on Wednesday.

Nevertheless, the IMF chief said that the Washington-based fund was «prepared for all possible situations».

Lagarde added that Athens had to speed up the process of structural reforms.

"The Greek population has made huge efforts. But they have more to do. There are more structural reforms to be had, there is more tax to be collected and that has a price.»

ekathimerini.com , Wednesday May 23, 2012 (11:52)  
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