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'IMF solution an option for Greece': Borg

AFP/The Local · 10 Feb 2010, 07:56

Published: 10 Feb 2010 07:56 GMT+01:00

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Anders Borg was speaking in Paris after a meeting with French counterpart Christine Lagarde and urged that all options be kept open.

"Discussing the role for the IMF in dealing with the situation shouldn't be taboo," one of his spokespeople told AFP.

"Greece has taken a first step toward restoring public finances and rebuilding market confidence but much more remains before confidence is restored," he told Sweden-based journalists in a telephone conference.

After the meeting, Lagarde said France and Sweden were "fully confident" in Greece's ability to put in place a programme to reduce the country's massive debt and a runaway public deficit.

The programme aims to reassure financial markets, anxious about Greece's capacity to honor its debts.

Story continues below…

Europe's post-recession economic woes, highlighted by swelling public deficits of Greece, Portugal and Spain, will be the focus of a European Union summit on Thursday.

EU Economic Affairs Commissioner Joaquin Almunia said Tuesday there was no need for the IMF to help Greece out of its economic crisis as Europe can handle the problem.

AFP/The Local (news@thelocal.se)

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Your comments about this article

08:48 February 10, 2010 by byke
stavros flatley will save you.
10:50 February 10, 2010 by just a question
Decision based on what Germany wants.

I won't work.
13:16 February 10, 2010 by Nemesis
The EU does not need IMF intervention, no matter how hard Greece and Ireland try to create that sort of scenario.

Borg can invite the IMF to Sverige if he wants. I am sure they would take a very close look at wastage in the taxation system, union control of hiring practices, civil service and take the banking sector apart literally.

Bring the IMF to take a look at how Borg is doing his job.
14:21 February 10, 2010 by CanadianEh
If the IMF goes into Greece and "assess" the situation their only solution will be to give large high intrest loans which in turn will turn Greece in a European Haiti (or any other 3rd world country that has been analy screwed by the international community).

The International Mafia Fund is not designed to help... just to control.
14:36 February 10, 2010 by Alex Coman
The IMF almost destroyed Romania in 90'. Mexic and Argentina, and God know what other country have a lot to thanks to IMF too...

On the other hand, Greece really needs a cold shower. Those lazy greeks in public sector were...

Anyway, in Greece, the crisis will teach a necessary lesson to those people.
16:31 February 10, 2010 by dstergiou
@byke: Stavros is actually from Cyprus, whole different country

@alex: i couldn't agree more. The public sector is a total waste of resources and a huge hive of corruption

Now, i am Greek, and i was living in Greece till recently. The financial situation in Greece is bad, but it's mainly bad cause we (Greeks) have managed to "throw out of the window" all the financial support we got from EU, we have politicians who are corrupted to the bone and we also maintain a huge and useless public sector

I do not know how the situation can be fixed, or even if it can be fixed. The sure thing is that as long as Greece maintains the current status quo, nothing will get better. And constantly getting loans is not the answer, definitely

I just hope for the best...
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