While Greece has secured the backing of the International Monetary Fund in plans for an early exit from bailout deals with international lenders, Eurozone chief Jeroen Dijssebloem is being more cautious.
Dijsselbloem, the Dutch Finance Minister, didn’t rule out the prospect of Greece getting out from under the terms of what’s left of two bailouts of 240 billion euros ($317 billion) in two rescue packages from the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB), but said it was premature.
Greece’s Finance Minister Gikas Hardouvelis met with his Eurozone peers on Oct. 13, in Luxembourg to lobby the case for an early exit and to emphasize Greece’s commitment to reforms. That was a day after he and a team of Greek officials met in Washington, D.C., with IMF Managing Director Christine Lagarde.
Dijsselbloem did not rule out the prospect of a precautionary credit line raised by Lagarde last week, noting that there was “a strong consensus” that Greece’s exit must be sustainable, that the government must finally finished long-undone reforms and that there wouldn’t be any talk of debt relief until the end of the year when final figures are in.
In comments after a meeting with Lagarde in Washington, Hardouvelis said theIMF would “assist the Greek effort” without explicitly referring to Greece’s request for an early exit from the IMF’s arm of the bailout, which is scheduled to end in the spring of 2016.