The IMF’s leadership continued to emphasize the point that Greece’s debt, under current conditions, is not sustainable, with the Fund’s European department director, Poul Thomsen, adding that reforms are not enough.
Speaking at an Atlantic Council panel discussion over the weekend, he said debt relief combined with the implementation of structural reforms are necessary. Additionally, he said the foreseen fiscal targets for Greece after 2018, namely, the 3.5-percent primary budget surplus target demanded by European creditors, is high… “and if it stays as high no doubt it will have adverse effect on growth.”
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