Greece says a deal is imminent. Germany and France say its not. Now we have the IMF weighing in. At this point its hard to get a clear read as to what is going on. Keep in mind we have a three day weekend in Greece coming up.
“We are all in the process of working towards a solution for Greece and I would not say that we already have reached substantial results,” IMF Managing Director Christine Lagarde told ARD television in comments which were translated from English to German.
“Things have moved, but there is still a lot of work to do,” she noted, adding that she believed Greece would fulfill its commitments.
Greece and its EU/IMF lenders have been locked in tortuous negotiations on a reforms agreement for four months without a breakthrough in sight. Without a deal, Athens risks default or bankruptcy in weeks.