Categories:Europe,Investments

IMF’s Lagarde not “terribly optimistic” over Greece

  • Print
  • Comment

Christine Lagarde, head of the International Monetary Fund (IMF), has reiterated her commitment to reducing Greece’s debt to GDP ratio to 120% by 2020.

Christine Lagarde, source: IMF

Christine Lagarde, source: IMF

However, in an interview with Bloomberg TV, the IMF chief said she was not “terribly optimistic or positive” about the the progress made by greek authorities so far.

She says: “It is very simple from my point of view. The country has to do lots of things: structural adjustment, fiscal consolidation, it has to be stretched over the right period of time.”

Lagarde adds: “My concern is to put Greece on its feet, to make sure it one day returns to market and it is not kept out of water by third parties.”

However, Lagarde says she was pleased that negotiations were underway for “something that is significant and substantial”.

“If everybody does what everybody has to do, that includes the private sector, the official sector, [and] the country that have to provide the adjustment [and] need to have the courage to get on the path and not get off track,” she says. “Then default will be avoided. But it is a requirement that people do what they have to do.”

 

  • Print
  • Comment

Daily Email Updates

If you enjoyed this article, sign up to receive the latest breaking news and analysis for your industry from Fund Web.

The Money Marketing CPD Centre

Time spent reading about technical or regulatory issues can build your annual CPD hours. Log and plan your annual CPD for free with The Money Marketing CPD Centre.


Money Marketing Awards 2015

Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your say Edit my profile/screen name

You must sign in to make a comment

Fund Data



Poll

Which will be the best performing equity region in 2015?