IMF 'will help Greece on its own terms'

31 March 2010

Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), has said the body will set its own terms for helping Greece if a bailout of the country is deemed necessary.

Last week, eurozone leaders announced they had agreed a deal which would see its members provide the majority of the financial aid required by Greece, with the proviso that the IMF puts up one-third of the funding.

But Mr Strauss-Kahn warned this is not a done deal as far as he is concerned.

"I cannot present to my board a program which has not been assessed by my staff," he told the Financial Times.

He added that it may not be necessary for the IMF and the European Union (EU) to step in, as the current plan to let Greece attempt to escape its current economic woes without any assistance is a good one.

"I think the strategy chosen by the EU will work," he said.

By Claire Archer

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