EU Issues Warning to Greece About IMF Repayment

The EU’s economic affairs commissioner on Wednesday called on Athens “not to play games” with the International Monetary Fund as the body decides whether to participate in Greece’s latest bailout.

Pierre Moscovici insisted the IMF must play a role in the three-year, 86-billion-euro (S$134.6 billion) rescue package agreed in July, but Greek Prime Minister Alexis Tsipras has said funds from the institution are not necessary.

“We don’t play games with the IMF,” Mr Moscovici said in an interview with the German daily Suddeutsche Zeitung.

“We are going to try to come to come to an agreement with the Fund,” he said.

“For many (EU) member countries, not only Germany, the participation of the IMF is an absolute necessity,” the former French finance minister added.

via Business Times Singapore

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza