Greek PM Tsipras Invites IMF to Participate Financially in Greece’s Bailout

Wednesday, July 12th, 2017
Last Update: 15:56

Greek Prime Minister Alexis Tsipras has sent a letter of intent to the International Monetary Fund asking for its financial participation in the country’s bailout program, according to a Kathimerini newspaper report.

In the letter seen by Kathimerini, Tsipras pledged to set a ceiling to hirings of contract municipality workers in 2017 and 2018 and make changes to trade union laws in order to convince the Fund to contribute financially to the Greek program.

The letter includes a list of 21 measures that the Greek government commits to be implemented by June 2018. Among them are a pledge that workers’ assemblies will have an increased quorum (50 percent) to decide strike action and union leaders will not have the right to decide the recalculation of pensions and facilitation of investments on their own.

A Bloomberg report that quotes IMF’s European Department director Poul Thomsen says that the Fund’s board of directors will discuss the Greek debt analysis on July 20 in order to decide whether Greece can stand on its feet financially without the support of the IMF and the European Stability Mechanism (ESM).

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