Remarks from an IMF official on Greece crossing the wires, the official speaking with journalists

(via Bloomberg)

  • Greece needs debt relief from European partners
  • Monday's debt-relief measures are insufficient
  • New debt relief for Greece not sufficient
  • We are still well away from agreement on Greece
  • Longer primary surplus is 3.5%, less credible it is
  • Greek fiscal adjustment isn't sustainable
  • Fund is unfairly blamed for pushing austerity
  • Can live with 3.5% primary surplus, prefer 1.5%

Greece is on the back-burner for now ... these will have little immediate impact