BERLIN (MNI) – The IMF, the EU Commission and the Greek government
itself fear that Greece might run into financial troubles again once the
aid package of the Eurozone and the IMF runs out in 2012, German daily
Sueddeutsche Zeitung reported Wednesday, citing no sources.
The E110 billion aid package might have to be prolonged, according
to the paper. It noted that Greece will have to refinance an
exceptionally high volume of government debt in 2014 and 2015. Moreover,
first repayments on the EU and IMF loans will be due at the same time,
it said. The IMF, the European Commission and Greek officials fear that
these two burdens might be too much for the country, the paper wrote.
A German finance ministry spokesman made clear on Monday that
Germany does not support the idea of giving Greece more time to repay
its loans from EMU and the IMF.
“We are of the opinion that the existing body of rules which has
been set up for Greece by the ECB, the EU Commission and the IMF needs
to be executed now,” ministry spokesman Michael Offer said at a regular
government press conference in Berlin.
He acknowledged that the budget consolidation requirements call for
a large effort from Greece. In the view of Germany, though, Greece is
progressing well on that path, “and we are confident that Greece will be
able to come down from its high government debt,” Offer said.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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