IMF 'will be hindered by referendum'

2 November 2011

Plans from the International Monetary Fund (IMF) regarding its next injection of aid funds into the eurozone will be scuppered by the Greek referendum.

That is the opinion of Jan Kees de Jager, finance minister of the Netherlands, who believes this policy decision by the Greek prime minister has the potential to make planning ahead very tough for both the IMF and the European Union.

Yesterday (1 November), it emerged that George Papendreou had taken the decision to refer the $130 billion bailout package agreed by leaders in the eurozone to the Greek population in a referendum.

This measure shocked officials from other member nations such as Germany and France and Mr De Jager told the Dutch parliament that the process of resolving the debt crisis is now uncertain.

"This hinders the planning of the IMF and the eurozone. It creates a problem for the whole sixth tranche," Bloomberg quotes the minister as saying.

By Gary Cooper

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