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article imageIMF and EU threaten Greece must adhere to austerity

By Katerina Nikolas     May 8, 2012 in World
As confusion reins over the political landscape in Greece, the International Monetary Fund (IMF) and the European Union have warned Greece must adhere to austerity measures, including the implementation of more cuts in June.
According to Keep Talking Greece an EU official said "The program is the only way forward for Greece,” and any further renegotiation's would be “within strict boundaries, very, very limited.” Ta Nea reports that the fiscal task force of the European Commission in Greece, under the leadership of Horst Reichenbach, has assembled 20 of its 40 members in Athens to keep a close eye on fiscal reforms.
Furthermore, according to the Slog, the EU fiscal task force is to take up permanent residence in Athens, sharing office space with the Greek Regulatory Authority for Energy (RAE), which has angered employees of the energy authority. As the EU task force makes its permanent presence known, the IMF has also made bold statements following the impasse resulting from the elections.
According to Greek Reporter an IMF official has said “The IMF is threatening Greece that they will stop paying installments if the new government disagrees with the future austerity measures." Whilst stating it is prepared to negotiate with a new government once in place, it warns Greeks that they must obey the rules already laid out regarding austerity.
More about International monetary fund, EU fiscal task force, Austerity measures
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