IMF: NO BAILOUT FOR GREECE
REUTERS/Cathal McNaughton
The Financial Times' Peter Spiegel got his hands on documents from the institution showing that they won't sign off on the deal since there's no explicit agreement to deal with Greece's debt.
Here's the most important part from the FT:
According to a four-page "strictly confidential" summary of Wednesday's board meeting obtained by the Financial Times, IMF negotiators will "participate in policy discussions" to ensure the eurozone's new bailout "is consistent with what the Fund has in mind".
But they "cannot reach staff level agreement at this stage." The Fund will only decide whether to participate during a "stage two" after Greece has "agreed on a comprehensive set of reforms" and, crucially, after eurozone bailout lenders have "agreed on debt relief".
The involvement of the IMF in the deal is crucial for some European countries, especially Germany.
We'll have more on this story as it breaks.
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