German finance minister Wolfgang Schäuble has ruled out debt relief for Greece, rebuffing a key demand of the International Monetary Fund even as he warned that the current bailout would fall apart without the IMFs participation.
The intervention on the sidelines of the IMFs spring meetings in Washington highlighted growing tensions between the IMF and its European bailout partners over Greece, now in its sixth year of an economic rescue programme.
It came as the IMF warned again that it would not be able to participate in a Greek bailout without meaningful long-term debt relief. It raised the possibility that it would not contribute financially and adopt only a monitoring role.
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