Greece talks need 'adults in the room': IMF's Lagarde

Her comment comes after Greek Prime Minister Alexis Tsipras said the Washington-based lender had a "criminal responsibility" for the Greek crisis

AFPPTI Luxembourg
Last Updated : Jun 29 2015 | 3:03 PM IST
International Monetary Fund chief Christine Lagarde today warned that a resolution to five months of tortuous debt talks with Greece required "adults in the room" in an apparent sideswipe at Greek officials.

"For the moment we are short of a dialogue, the key emergency is to restore the dialogue with adults in the room," Lagarde said at a press briefing after the latest round of eurozone finance ministers' talks on the crisis broke up without a deal, less than two weeks before Athens must repay 1.6 billion euros to the IMF."

Her comment comes after Greek Prime Minister Alexis Tsipras said the Washington-based lender had a "criminal responsibility" for the Greek crisis.

"The IMF teams are available day and night. They stayed for entire weeks in Brussels and waited and are ready to return," Lagarde said, two weeks after the IMF pulled negotiators from technical talks with Greece because of the lack of progress.

"(Greece's proposals) cannot be about smoke and mirrors, it has to be credible," she added.

"The institutions have put together very sensible proposals," she said, 12 days before Greece's huge payment deadline.

"We are waiting and we hope that next few days will be used by the Greek government to come with tangible measures."

Greece had already bought itself time by bundling four looming IMF loan payments into one to be paid by the last day of June, becoming the first country to use such a possibility since Zambia in the 1980s.

Lagarde's refusal to consider an extension adds to the pressure on Greece's radical-left government as its creditors are refusing to dole out the last tranche of its international bailout, which also expires on June 30.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 19 2015 | 1:32 AM IST

Next Story