RELIEF MEASURES
Eurozone going round in circles on Greek debt
Brussels — Eurozone finance ministers will meet on Monday as far apart as ever on the debt-relief measures demanded by the IMF for it to back their bail-out programme for Greece. The IMF played a key role in two massive rescues for Greece but baulked at a third in 2015, worth €86bn, warning that Athens would never get back on its feet unless its debt mountain was cut outright. The fund is obliged to lend only to countries that can repay, and MD Christine Lagarde has been accused of bending the rules in the two previous bail-outs to help save the eurozone. Germany insists that Greece must meet all its commitments on spending cuts and tax hikes before measures to reduce debt — equal to about 180% of GDP — can be considered. "We are going around in circles," one EU official said, as an end-of-year deadline to resolve the impasse looms large. The situation is further complicated by differences within the eurozone. France — where public finances are far from healthy — believes Athens sho...
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