German lawmakers to drop support for Greece bailout if IMF quits - Reuters

Jose Ricaurte Jaen Analista independiente

According to the latest wires, via Reuters, German lawmakers will not back further financial support for Greece if the International Monetary Fund withdraws from Athens's bailout program.

Key Highlights:

•Greece needs a new tranche of financial aid under its third bailout program by July to meet its debt repayments.

•Berlin has long argued that the IMF's expertise and independence are crucial to make Greece's third bailout, worth up to 86 billion euros ($91 billion), a success.

•Hans-Peter Friedrich urged the Fund to show flexibility and to back off its demand for the euro zone to grant Greece some debt relief.

•Greece and its lenders agreed on Monday to resume talks on a bailout review, easing a standoff which had threatened to block the release of the next tranche of its bailout.

Author

Jose Ricaurte Jaen

Analista independiente

Born in Colón (Panamá). Over the last years, he has been designing currency algorithms for the retail industry.

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