For Immediate Release
Dan Beeton, 202-239-1460
Greece’s Deferred Payment to IMF is an Important Development, CEPR Co-Director Says
Surprise move Shows that Troika Can't Dictate the Terms of an Agreement
WASHINGTON - The Greek government’s decision to defer payment to the International Monetary Fund (IMF) represents an important development for Greece’s negotiations with the European authorities and its efforts to emerge from the economic downturn that has persisted since the Global Recession of 2008-2009, CEPR Co-Director Mark Weisbrot said today.
“This shows that the troika, and the ECB especially, is not holding all the cards, as many had thought,” Weisbrot said. “The Syriza-led government in Athens meanwhile is demonstrating that ‘elections have consequences,’ and that the European authorities—who are mainly responsible for more than six years of depression in Greece—will also have to compromise."
Greece will bundle its debt payments into a single payment due at the end of June, according to IMF spokespersons. In so doing, Greece is the first country to defer a payment to the IMF, in this manner, since the 1980s.
This is the world we live in. This is the world we cover.
Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Won't Exist.
The Center for Economic and Policy Research (CEPR) was established in 1999 to promote democratic debate on the most important economic and social issues that affect people's lives. In order for citizens to effectively exercise their voices in a democracy, they should be informed about the problems and choices that they face. CEPR is committed to presenting issues in an accurate and understandable manner, so that the public is better prepared to choose among the various policy options.