Fix on Greek debt

Published November 14, 2012

KUALA LUMPUR, Nov 14: The International Monetary Fund wants a “real fix, not a quick fix” on Greek debt, its managing director said on Wednesday, days after publicly clashing with European officials on the issue.

Christine Lagarde also urged the US legislators “at all costs” to avoid the “fiscal cliff” of spending cuts and tax rises that will come into effect January 1 unless the two parties can agree a deficit and debt reduction deal. Asked at a press conference in Malaysia whether the IMF would insist on Greece’s debtors taking a “haircut”, Lagarde said all partners “share the same objectives and the same concern” to return the country to economic stability.—AFP

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