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ECB’s Coeure: Conclusion of Greece’s Review and a new program with the IMF

Just when I was wondering today, if there is something missing in my life… one of ECB’s executive board member solved my problem: he told me that what is missing in my life is a new program with the IMF!

The European Central Bank concurs with the International Monetary Fund on the need for a strong policy package for Greece, executive board member Benoit Coeure said on Tuesday.

“We fully agree with the IMF on the need for a strong policy package. The aim of this discussion is the conclusion of the first review of the MoU and a new programme with the IMF,” he said in a statement.

Greece and its international lenders adjourned talks on a crucial bailout review early on Tuesday and will resume them immediately after the IMF spring meetings this week, the Greek finance minister said.

An ECB spokesperson said “good progress” has been made in all areas during talks with the Greek government.

“All four institutions are working intensively together with Greek authorities on an ambitious policy package aiming at supporting growth, job creation and the competitiveness of the Greek economy,” the spokesperson said.

“This will form the basis for both the conclusion of the first review between the Greek authorities and the European institutions and a new programme with the IMF.”

PS I wouldn’t call it a “strong policy package” but a “never-ending austerity package”!

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