IMF concedes Greece needs relief
IMF concedes Greece needs relief

The International Monetary Fund in effect is now saying that any new bailout deal for Greece must include debt relief, a position that will likely turn up pressure on the country’s European creditors. On July 2, the IMF said that Greece has little hope of recovery without some reduction in its massive debt burden. This is what Athens has been pointing out. Greece will vote on Europe’s bailout proposals on July 5, with Athens hoping that the results will strengthen its position in negotiations next week.

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