End of support for Greece?

The report in the German weekly 'Der Spiegel' has caused a stir. The weekly reports that the International Monetary Fund (IMF) wants to stop financial aid to Greece. They write that European leaders are aware that the IMF is running out of patience with Greece. If this support for Greece is not forthcoming, they will no longer be able to meet their obligations in September. Support within Europe had already fallen to an all-time low, so support for extra money seems a long way off.

Greece would like a postponement to implement the reforms demanded. Most euro area countries are not in favour of this. The weekly magazine 'Der Spiegel' writes that postponement also means more support. They calculate that this would be between 10 and 50 billion euros.

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