IMF official calls for Greek debt relief and cooperation on refugees

IMF official calls for Greek debt relief and cooperation on refugees

Published at: 2016-03-30 11:02 | Author: CIJ Greece
IMF Economic Counselor and Director of Research Maurice Obstfeld has urged the need for relaxing of the strict fiscal measures on Greece in response to the refugee crisis. Speaking to German newspaper Handelsblatt, he stressed that more flexibility is necessary in the short-term regarding fiscal goals, though structural reforms are unavoidable.

He also stressed that more debt relief for Greece is needed. He said the EU should promote greater cooperation on the crisis and that member states should share the financial burden of dealing with it, while trying to avoid the erection of walls and fences. Such barriers worry the American economist, as it flies in the face of the currency union. Obstfeld was also critical of the fact that the ECB had taken on the task of boosting the economy on its own without employing fiscal policies.

Similar Stories:

Hochtief chosen to renovate lower half of Wenceslas Square
Work on the renovation of the lower portion of Wenceslas square is about to get underway,  »
Prague approves tunnels for inner loop road's completion
Prague's city council approved plans for the completion of the city's inner expr  »
Brno sets the rules for huge new development zone
Brno's chief architect's office has set rules for the development of the city�  »
Former Prague mayor plots her comeback
After a short break from politics, former Prague mayor Adriana Krnáčová announced her c  »
There’s a joke currently doing the rounds in Romania which rather sums up public attitud   »
The Polish real estate investment sector got a Christmas present from the Ministry of Fina   »
It was quite clear to Ben and me when we were talking about Savills about what we wanted t   »
As recently as 8 years after the beginning of the financial crisis, the only local investo   »