Following Merkel-Lagarde meeting in Berlin, the Greek government is expecting the Institutions to return to Athens next week.
The IMF is now “much more optimistic” about reaching a solution regarding Greece’s debt issue, said Christine Lagarde. Mrs. Lagarde insisted on the necessity of reforms and debt relief, but not of a “haircut” for the time being. She also insisted on pension and income tax reforms, acknowledging that Greece has been subject to excessive austerity.
A few hours before, the European Commission had once more criticized Germany’s large trade surpluses that, according to European Commissioner for Economic and Financial Affairs Pierre Moscovici, cause “major economic and financial distortions to the whole Eurozone area”. When the Institutions return to Athens, the forming of a balanced package will be considered; this package will include reforms, as well as employment and growth measures, said Mr. Moscovici.
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