According to Der Spiegel, the IMF Wants to Stop Aid to
Greece as soon as the ESM is up and running in September. At that time Greece
would become bankrupt.
This is a Mish-modified translation from German:
The patience of the International Monetary Fund (IMF) with
Greece comes to an end: According to to information obtained by SPIEGEL, senior
IMF officials told EU leaders in Brussels that the IMF was no longer willing to
provide additional funds for Greece.
The Troika estimates that Greece needs between ten and 50
billion € to meet targets, but many governments in the euro zone are no longer
willing to shoulder new burdens. In addition, countries like the Netherlands
and Finland, have linked their support because the IMF was involved.
The risk of withdrawal of Greece from the monetary union is
now held in the countries of the Euro-zone control. To limit the risk of
contagion to other countries, governments want to wait for the start of the new
bailout ESM…..
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