Author Topic: Greece defaults on IMF  (Read 3188 times)

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Offline Maik

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Greece defaults on IMF
« on: Wednesday, 01 July, 2015 @ 08:14:48 »
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Greece defaults on the International Monetary Fund after launching 11th hour attempt to agree new rescue deal
Debtor nation makes history in becoming first ever developed economy not to pay back the IMF five days ahead of vital referendum

Default to the IMF does not however constitute a sovereign default in the eyes of rating agencies. It is also not guaranteed to trigger a series of cross-default clauses on the country's other outstanding debt.
http://www.telegraph.co.uk/finance/economics/11709473/Greece-defaults-on-the-International-Monetary-Fund-after-launching-11th-hour-attempt-to-agree-new-rescue-deal.html


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IMF: austerity measures would still leave Greece with unsustainable debt
Secret documents show creditors’ baseline estimate puts debt at 118% of GDP in 2030, even if it signs up to all tax and spending reforms demanded by troika
http://www.theguardian.com/business/2015/jun/30/greek-debt-troika-analysis-says-significant-concessions-still-needed



Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy - and now it is being humiliated


Statement by the IMF on Greece