German finance minister Wolfgang Schaeuble warned that without the participation of the International Monetary Fund the current Greek fiscal adjustment program signed in August 2015 will have to radically change. The IMF insists on fiscal figures and targets the German-led Eurozone refuses to accept.
Speaking to Passauer Neue Presse, Schaeuble said that “Greece is doing better” and that “the reforms even in small steps bear fruits.” However, he insisted on the IMF participation saying
“The current program provides for the participation of the Fund. Should the IMF decide to withdraw, then this would radically change the program and it would therefore require the vote of the German Parliament.”
He did not elaborate about this ‘radical change’ and whether the current agreements would be cancelled and or modified to a new one.
Schaeuble added “I believe that things will remain as decided by the Eurozone, the IMF and the Greek government in 2015.”
PS Most probably Schaeuble’s warning goes to the direction of the Fund and not of Greece.