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Ahead of Greek Parliamentary Vote on Bailout, IMF Criticizes Deal

HeadlineJul 15, 2015

The International Monetary Fund has criticized the new bailout deal between Greece and its European creditors. In a leaked report, the IMF called the country’s debt levels “highly unsustainable” and said that it will not be a party to the deal unless Greece is offered either debt relief or a 30-year extension period to allow the economy to recover before resuming loan repayment. Greek lawmakers are scheduled to vote tonight on whether to accept the deal’s harsh austerity terms. Prime Minister Alexis Tsipras has vowed to defend the bailout, despite saying he signed a deal he “does not believe in.”

Prime Minister Alexis Tsipras: “I overestimated the power that a people with right on their side have, as well as the reactionary might against the founding principles of Europe, which are a respect for democracy and of people’s choices. What is the message sent to us by our partners? It is that there is no point for countries who are in a program to hold elections. This is a very harsh message for Europe.”

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