The Managing Director of the International Monetary Fund Christine Lagarde has underlined that a restructure of the Greek public debt is “inevitable”, underlining that the loans are unsustainable.
Mrs. Lagarde, who made the comments at a news conference, added that “for Greece to succeed and for any program to fly, a significant debt restructuring should take place”.
The IMF has favored an easing of the terms of Greece’s debts to its international creditors, however European governments have so far resisted the possibility, instead urging further for greater structural reforms and budget cuts.
