TURKEY: IMF Managing Director Christine Lagarde says Greece should form a government in the coming weeks for implementing the programme

Record ID: 217569

  • Title: TURKEY: IMF Managing Director Christine Lagarde says Greece should form a government in the coming weeks for implementing the programme
  • Date: 12th May 2012
  • Summary: ISTANBUL, TURKEY (MAY 11, 2012) (REUTERS) ***BEWARE FLASH PHOTOGRAPHY*** PARTICIPANTS OF INVESTMENT ADVISORY COUNCIL FOR TURKEY ARRIVING FOR FAMILY PHOTO INTERNATIONAL MONETARY FUND MANAGING DIRECTOR CHRISTINE LAGARDE ARRIVING FOR FAMILY PHOTO MEDIA VARIOUS OF LAGARDE TALKING TO TURKISH ECONOMY MINISTER MEHMET SIMSEK TURKISH PRIME MINISTER TAYYIP ERDOGAN ARRIVING ERD
  • Embargoed: 27th May 2012 13:00
  • Keywords:
  • Location: Turkey
  • Country: Turkey
  • Topics: International Relations,Economic News,Politics
  • Reuters ID: LVA4OMBBHXZCGTSVQVQ10DM55MLZ
  • Story Text: IMF Managing Director Christine Lagarde warned Greece on Friday (May 11) that it must form a government in the coming weeks after a shock election which left gaping questions over the country's ability to avert bankruptcy and stay in the euro.
    "I will be very brief to your question: is it important to have a government in the coming weeks? Of course it is important. Not only from the perspective of implementing a program but in all respects," Lagarde said during a meeting of Investment Advisory Council for Turkey in Istanbul.
    Greeks enraged by the terms of international bailouts which have cut wages, sent unemployment to one of the highest levels in Europe and caused a spate of suicides, deserted mainstream parties in droves in Sunday's poll, plunging their country into uncertainty.
    New Democracy and Socialist PASOK were devastated by the election, in which Greeks voted against the two traditional ruling parties who had imposed economic hardship in exchange for an EU/IMF bailout to avert a sovereign default.
    Lagarde said countries such as Greece that are under a program should implement the program.
    "You have the issue of those countries that are under the program such as Ireland, Portugal and Greece and they are clearly from my perspective as the manager director of the IMF the programs have to be implemented. I keep repeating myself. It's implementation, implementation, implementation. There are no alternative options in those countries," she said.
  • Copyright Holder: REUTERS
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