More on IMF-Greece: the IMF is threatening to cut its financing to Greece unless eurozone...

|By:, SA News Editor

More on IMF-Greece: the IMF is threatening to cut its financing to Greece unless eurozone countries take haircuts worth tens of billions of euros on the country's debt, the WSJ reports. The IMF, though, can't accept a write-down, as it's a senior creditor. The eurozone is resisting the IMF's suggestions, which include having the ESM take on Greek debt of $50B, a move that could slash the country's burden by 15%-20% of GDP.