Bad Haircut IMF Greek Debt Default Demand Could Haunt Merkel

The International Monetary Fund wants Greece's creditors to forgive a portion of the country's debt, a move which could cost Germany up to 17.5 billion euros. With general elections approaching next year, Chancellor Angela Merkel is adamantly opposed to such a move.
Chancellor Angela Merkel is in a bind.

Chancellor Angela Merkel is in a bind.

Foto: PATRICIA DE MELO MOREIRA/ AFP
cgh -- with wire reports