IMF Warns Of The Possibility Of Suspending Greek Bailout

May 6th, 2012, 09:13 PM

The First IMF reaction to the results of the Greek parliamentary elections is an aggressive warning: If the new Greek government doesn't stick to the agreed upon austerity measures, the aid payment will be suspended as early as June, according to a statement by an IMF official commenting on the outcome of the Greek elections.

The new Greek government must present details on how it will cut spending by �11.5 billion in June to the representatives of the Troika -European Commission (EC), the International Monetary Fund (IMF), and the European Central Bank (ECB).

The IMF officials added that the Troika won't make its next visit to Greece until the new government is in power.

The elections' results showed the two main political parties in the country with pro-austerity agendas losing much of their powers to other parties that run on anti-austerity platforms during the elections campaigns.

eFXnews : IMF Warns Of The Possibility Of Suspending Greek Bailout Funding In June

IMF Warns Of The Possibility Of Suspending Greek Bailout

Discussion in Traders Hideout

IMF Warns Of The Possibility Of Suspending Greek Bailout