The depth of distrust between Greece and its creditors grows increasingly clear as both sides resume negotiations for a new bailout program.
The International Monetary Fund is demanding more European debt relief for Greece — at a minimum, a longer payback period on its European Union loans. But Germany insists that the fund lend to Greece even if Athens receives no immediate additional debt relief. More relief would not be needed for “the coming years,” German Finance Minister Wolfgang Schaeuble said.
Yet, additional IMF loans would only paper over Greece’s economic problems and postpone the reforms Athens needs to make to remain in the euro zone.… Seguir leyendo »