IMF: Greece Needs Another $67 Billion
The very organization it failed to repay $1.7 billion this week now supports sending more money to Athens, with two-thirds of the funds coming from the EU. The IMF also recommends comprehensive debt relief structured to give the Greek economy room to grow, including a 20-year extension for repayments. Prime Minister Alexis Tsipras today urged voters to reject the “blackmail” in Sunday’s referendum. EU officials, meanwhile, are demanding a “Yes” to reforms in exchange for a bailout, and president of the European parliament, Martin Schulz, wants Tsipras to resign.