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Germany opposes Greek IMF loan extension


Germany opposes Greek IMF loan extension


Berlin says it is opposed to Greece extending the repayment of its EU/IMF bailout loans.

The International Monetary Fund has indicated it may offer that, if Athens has further difficulty in selling government bonds to service its debt.

The German finance ministry said: “As long as the Greeks are fulfilling the programme – which they are doing very well – there are no grounds for extending the repayment schedule.”

The IMF said on Sunday that loans to Greece could be stretched out or replaced if refinancing worries lingered in markets, but it currently has no concrete plans to do so because of recent improvements in investor sentiment toward Greece.

The 110 billion euro rescue package from the European Union and the IMF earlier this year kept Greece from going bankrupt. It runs until 2012.

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