Remarks from an IMF official on Greece crossing the wires, the official speaking with journalists
(via Bloomberg)
- Greece needs debt relief from European partners
- Monday's debt-relief measures are insufficient
- New debt relief for Greece not sufficient
- We are still well away from agreement on Greece
- Longer primary surplus is 3.5%, less credible it is
- Greek fiscal adjustment isn't sustainable
- Fund is unfairly blamed for pushing austerity
- Can live with 3.5% primary surplus, prefer 1.5%
Greece is on the back-burner for now ... these will have little immediate impact