The German Minister of Finances Wolfgang Schäuble commented that the institutions will be the ones to decide upon the sustainability of the Greek debt.
Mr. Schäuble made the comment in response to rumors that the International Monetary Fund has been pressuring Greece’s European partners for a new haircut of the Greek debt. According to the German minister speculation was “natural” before Eurogroup sessions, but argued that there was an ongoing process between the three institutions and the Greek government.
Furthermore, the German Minister cited the institutions regarding the review of the debt’s sustainability and added that prior to January’s elections, the IMF’s Poul Thomsen claimed that the Greek recovery was exceeding expectations. Mr. Schäuble also pointed out that the Greek program estimates that the country’s debt will drop to 120% GDP by 2022.
