French Finance Minister Christine Lagarde called on the International Monetary Fund to ease the terms of Greece’s bailout loan, following European Central Bank’s example, according to Reuters.
“We wish for a harmonisation of conditions between the European facilities on the one hand and the International Monetary Fund on the other,” Lagarde said. “The IMF must also examine the conditions of its deal with Greece.”
Lagarde said that European leaders’ agreement to lower the interest rate and lengthen the maturity of bailout package that would apply retroactively to the start of the package.
Lagarde also noted that it was a question of months, however, before the agreed upon changes could be put into effect.
“What we have fixed as a horizon is that this (EFSF reform) should be put into practice by the summer, which leaves us four months,” Lagarde told a news conference.
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