IMF: Greece in more trouble than assumed; Parliament wants answers

Greece protest
"Money for Education and Health, not for banks, ministries, debt," a sign reads at a Greek austerity protest. Nov. 6, 2014 (photo: Dionysis Kouris/Flickr). ("Money for Education and Health, not for banks, ministries, debt," a sign reads at a Greek austerity protest. Nov. 6, 2014 (photo: Dionysis Kouris/Flickr))

A majority in the Tweede Kamer, lower house of parliament, wants the Dutch government to give a response to the International Monetary Fund's memo that states that Greece will need much more help than assumed. They want this response before the parliamentary debate on Greece with Prime Minister Mark Rutte and Minister Jeroen Dijsselbloem of Finance on Thursday afternoon.

This motion was brought by CDA parliamentarian Pieter Heermabrug and got the support of a majority in the Tweede Kamer, NOS reports.

The IMF's memo on Greece leaked out through international media on Tuesday and has since been published on the International Monetary Fund's website. The IMF informed the euro countries that Greece needs much more help than assumed in order to make its debt sustainable. The agreement for 85 billion euros reached in Brussels on Monday, will not be enough.

"Greece's debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far.", The IMF writes. The economic and financial situation in the country has deteriorated dramatically in the past few week, partly caused by  the closure of the banks.

Tags: