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Greece claims Germany and other creditors play by double standards

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Staff Writer | June 1, 2017
Greek Finance Minister Euklid Tsakalotos accused Germany and other creditors of double standards over a row with the International Monetary Fund (IMF) that could delay Athens' next bailout tranche, the daily Kathimerini reported.
Euklid Tsakalotos
Europe   Greece country must repay EUR6 billion
Speaking at a conference in Frankfurt, Tsakalotos pointed out that creditors backed the IMF when it demands reforms, but "sidelined" it when it called for fewer burdens on Greece in order to maintain debt repayment sustainability, the newspaper said.

"If the Netherlands and Germany see the IMF as a wonderful institution, then they have to hear what it says about the [Greek] burden of debts," he said.

Tsakalotos referred to differences between creditors, including Germany, and the IMF, which wants to immediately ease the burden of debt repayment for Greece to a sustainable level. Germany is unwilling to grant Athens more leeway at least until next year.

Creditors are to meet on June 15 to decide whether to disburse funds in what would be the third bailout since Greece went into a financial meltdown in 2010. The country must repay EUR6 billion of its debts in July.

Tsakalotos stressed that his country is not asking for an immediate implementation of relief, but wants a clear signal from the Eurogroup meeting in order to regain the confidence of financial markets.