The international lender says Greece needs debt relief – but why did it take so long for it to admit it? Greece needs €50bn-€60bn (£35bn-£42bn) of extra funds over the next three years and large-scale debt relief to create “a breathing space,” says the International Monetary Fund. In Athens, the Greek prime minister, Alexis Tsipras could be forgiven for shouting: “I told you so.” Debt relief has been a central plank of his demands from the day he was elected in January.Tsipras might also curse the IMF for making its declaration only now, three days before the referendum. The IMF has been muttering about debt relief for Greece for months but behind-the-scenes briefings don’t carry the same clout as an official publication. Continue reading...
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