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Greece at Risk of Colliding with Creditors, Wants IMF Out of Bailout Program

maximos-mansionGreece is at risk of colliding with international creditors for delaying the implementation of the reforms required by the bailout program, that should have been completed in October.
The security fund reforms that should have been voted in parliament by December 15 is now postponed until January, while several prior actions required remain unresolved.
The International Monetary Fund is refusing to contribute financially to the bailout. At the same time, the Greek government is considering asking the IMF to depart from the program.
According to government sources, Prime Minister Alexis Tsipras expressed the opinion that the IMF should pull out of Greece’s bailout program to U.S. State Secretary John Kerry. During Kerry’s recent visit to Athens, the U.S. official discussed Greece’s efforts for economic recovery with Tsipras.
Both officials agreed that austerity is not the right way for getting out of the economic crisis. Since the U.S. government is an IMF shareholder, the Greek prime minister complained about the IMF’s insistence on austerity.
In a recent interview to Italian news agency Ansamed, State Minister Nikos Pappas stated that “we never asked for the participation of the IMF in the bailout program.” The Greek government aims at making the state debt a purely European Union issue.
However, Greece owes about 20 billion euros to the IMF from its previous bailout. It is unlikely that Greece can draw these funds from international markets. At the same time, powerful Eurozone member states such as Germany and the Netherlands insist that the IMF remains in the country’s bailout program.

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