IMF to Stop Further Aid Tranches to Greece
Quote:
The International Monetary Fund will stop paying further rescue aid to Greece, making the country’s insolvency in September more likely, the Der Spiegel magazine said. citing unidentified European Union officials.
While a review of Greece’s progress in meeting terms of its rescue is unfinished, it is “already clear” to the reviewing body of the IMF, the EU Commission and the European Central Bank that Greece will not be able to fulfill its promise to cut debt to 120 percent of annual economic growth in euro terms by 2020, Der Spiegel said.
Bloomberg.com/news/2012-07-22/imf-to-stop-further-aid-tranches-to-greece-spiegel-says.html
