Visit our Treaty, Convention & International Organization Document Archive Read the Convention Relating to the Regime of the Straits (24 July 1923) Read the Convention Relating to the Regime of the Straits (24 July 1923)
HR-Net - Hellenic Resources Network Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Thursday, 28 March 2024
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

Athens Macedonian News Agency: News in English, 15-07-17

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] It is necessary to ease Greece's debt burden, IMF chief Lagarde says

  • [01] It is necessary to ease Greece's debt burden, IMF chief Lagarde says

    ANA/MPA---Christine Lagarde, Managing Director of the International Monetary Fund (IMF), pn Friday reiterated the IMF's position that it was necessary to "restructure Greece's debt to ease the burden". In an interview on Europe 1 radio, Lagarde said the solution recommended by the IMF was "to significantly extend maturities, also lengthen the grace period during which no refund is made, and reduce the interest up." "We believe that by using these three methods of really significant way may be enough to make the debt bearable" said Christine Lagarde. In other words, "a debt sustainability, one can quite achieve it by other methods than a straight cut on the amount of debt".

    For Christine Lagarde, the agreement reached Monday between Athens and its creditors is only "the beginning of an adventure." "Let's be clear, we do not reach the end of a process. It is a process that opens, on a very tight schedule with an enormous challenge," she warned. Negotiations on specific terms of the new aid plan will last "at least four weeks," according to the boss of the IMF. "It will not be a bed of roses, it will be complicated, it will be laborious."

    Commenting on a Greek government plan to reopen banks on Monday, the IMF's head said: "The measure taken by Greek authorities to close the banks was a measure absolutely necessary," said the general director of the IMF. "As much that extent was totally legitimate and protecting savers and depositors, as the action may be taken on Monday is also reassuring. It will mean that confidence is starting to build."

    Responding to criticism over the IMF's role since the beginning of the crisis, Lagarde said: "In 2010, I was not director general of the IMF, I was Minister of Finance and I was not particularly favorable to the IMF's involvement because I hoped at the time that we can solve the problem among Europeans. We did not succeed at that time". "At the time, I think that there was no choice but to take a very firm line on deficit reduction," she added.


    Athens News Agency: News in English Directory - Previous Article - Next Article
    Back to Top
    Copyright © 1995-2023 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute, Inc.
    ana2html v2.01 run on Friday, 17 July 2015 - 12:38:07 UTC