Ger­many mulls whether EU can guar­an­tee Greek debt to IMF: Die Zeit

The Pak Banker - - BUSINESS -

BER­LIN: The Ger­man gov­ern­ment is look­ing at whether the Euro­pean Union could pro­vide guar­an­tees for Greek debt to the In­ter­na­tional Mon­e­tary Fund (IMF) in or­der to keep the Fund on board and avoid the need for ma­jor debt re­lief, Ger­man weekly Die Zeit re­ported.

With­out cit­ing its sources, the pa­per re­ported on Wed­nes­day that the idea meant that "if Greece ran out of money, the Euro­peans would jump in and the IMF would suf­fer no losses. In re­turn, the Fund would no longer de­mand ex­ten­sive debt re­lief." The plan would thus ful­fil two key de­mands made by Ger­man Chan­cel­lor An­gela Merkel - keep­ing the IMF in­volved and avoid­ing a debt write­down.

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