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EU Says Greek Case Complex

13AEDECE94D4AAC0A219CA7F97F4C8E5An alarm has been raised in Brussels after the dramatic news came from Athens. According to EU sources, at the time of the Eurogroup meeting the rupture in the Greek government was not yet known.

The EU officials, the Finance minister as well as the IMF representatives were informed of the latest news in Athens on their way out.

Soon after they heard the news of the three leaders meeting at Maximos Mansion in Athens turned into a catastrophe, Wolfgang Schäuble, the German Federal Minister of Finance, stated that Greece is in a very complicated situation, while Eurogroup Chief, Jeroen Dijsselbloem, called Greek governmental authorities to keep on implementing the reforms. European Commissioner for Economic and Monetary Affairs and the Euro, Olli Rehn, asked on his part from the Greek political leaders to show responsibility.

Commissioner Rehn repeated his appeal to the Greek politicians again on the afternoon of June 21, underlining that, “It is vital for the political situation in Greece to be stabilized.”

Rehn sent a clear message to Athens saying that, “The continuation of the implementation of the reform program is vital for Greece. Greece has to focus on reforms.”

But the IMF’s first reaction to the news was also to “remind” Greece that if the country goes to early elections, then its funding will be interrupted.

David Lipton, Special Adviser to the Managing Director of the International Monetary Fund, stressed in his interview on June 21 to CNBC that, “The discussion on the suspension of the bailout funds to Greece is premature, as there are innumerable steps that need to be taken first.”

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