It’s the usual tactic, repeated again in a vicious circle that seems to have no end. After the Eurogroup agreement reached May 25, which seemed to ensure a period of relative peace for Greece, the International Monetary Fund again created strong doubts and uncertainties.
According to reports in the Greek press, IMF sources have indicated that the international economic organization based in Washington will not take part in the new financial support program for Athens until Greece can provide adequate assurances about real reduction of debt. This means, essentially, that what was decided on a Wednesday was put into question on a Friday.
In theory, the basis of all this seems to be yet another arm wrestling contest between the IMF and Germany and the “hawks” of the Berlin government. The former calls for an immediate sustainable debt relief, without waiting for 2018, while the latter does not want to give its assent to any type of opening, before the German elections in 2017. “We want more guarantees on debt,” IMF senior executives insist. In practice, however, this game among the parties could lead to new pressure on Athens, with the request to other cuts, where there is was really nothing left to cut out, if not the keeping of social cohesion.