- November 26, 2012
The International Monetary Fund believes that the only way to reduce Greek debt to a sustainable level is by way of a debt haircut involving the country's government creditors. But with an election approaching, Germany has refused to consider the proposal. Reality is on the IMF's side. By SPIEGEL Staff
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- November 21, 2012
Euro-zone finance ministers meeting in Brussels this week have been unable to reach an agreement with the International Monetary Fund on how to ensure that Greece's debt load comes down to manageable levels. Germany and other European countries continue to reject a new debt haircut. The standoff could become dangerous. more... [ Comment ]
- November 19, 2012
With elections approaching in 2013, Berlin is blocking a workable solution for Greece. German leaders are eager to avoid angering voters by giving more money to Athens, but their European partners are losing their patience. more... [ Comment ]
- November 13, 2012
Euro-zone finance ministers agreed on Monday to give Greece two more years to meet its budget goals, but this was overshadowed by a rift between the ministers and the International Monetary Fund over whether Greece should get a further debt cut. German commentators say the crisis could boil over again. more...
- October 29, 2012
Greece's international creditors are calling for a new debt haircut for the country so as to bring down its massive debt load. This time, however, taxpayer money from Germany and other donor countries would be involved. Resistance, not surprisingly, is substantial. more... [ Comment ]
- October 24, 2012
A German newspaper on Wednesday is reporting that Greece's creditors will grant the heavily indebted country two more years to meet its budget targets. Despite high-level denials, momentum appears to be growing for such a delay, which would necessitate further aid to Athens. more... [ Comment ]
- October 10, 2012
The International Monetary Fund is losing patience with European politicians. Officials at the Washington-based institution are calling on the EU to present a clear plan for its banking union. Europe's debt and euro crisis, the IMF warns, remains a persistent threat to the global economy. more...
- July 23, 2012
Greece has fallen behind with its budget cuts and is asking lenders for more time to meet the conditions of the 130 billion euro aid package. But that would require fresh help of up to 50 billion euros, SPIEGEL has learned. Neither Berlin nor the IMF are prepared to make that money available. more...
- June 12, 2012
As the focus of the euro crisis shifts to Italy, IMF head Christine Lagarde has warned that European leaders have less than three months to save the euro. Meanwhile top economist Nouriel Roubini has called on Berlin to drop its obsession with austerity, proposing that the German government give every household a 1,000 euro voucher to spend on a vacation in Southern Europe. more... [ Comment ]
- May 28, 2012
As Greeks prepare to head to the polls once again in three weeks, international criticism of the country is intensifying. IMF head Christine Lagarde on Friday said citizens must begin paying their taxes, while a member of the German cabinet referred to Greece as a "bottomless pit." more...