World Economy

Germany Pushes to Punish Greece

Germany Pushes to Punish GreeceGermany Pushes to Punish Greece

Eurozone finance ministers meet Monday as far apart as ever on the debt relief measures demanded by the International Monetary Fund for it to back their bailout program for Greece, AFP reported. The IMF played a key role in two massive rescues for Greece but baulked at a third in 2015, worth €86 billion ($92 billion), warning that Athens would never get back on its feet unless its debt mountain was cut outright. Germany insists that Greece must meet all its commitments on spending cuts and tax hikes before measures to reduce a debt mountain equal to some 180% of annual economic output can be considered.


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