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IMF softens its stance on Greece, as does Germany

International

IMF softens its stance on Greece, as does Germany

Thu, 16 June 2011
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According to the Financial Times, the International Monetary Fund has indicated that it is willing to disburse the next tranche of Greece’s current rescue package so long as the EU makes up for any shortfall.

This, in turn, has led Germany to soften its own stance as regards a reprofiling of Greece’s debts, says the FT's digital edition (FT.com).

So now, rather than insisting on a debt exchange with a 7-year maturity extension, the German government would support any solution that is "quantifiable, substantial, reliable and voluntary".

The above is leading some analysts to conclude that Germany and France may resolve their differences concerning how private investors will participate in any rollover as soon as this week.

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