Greece says will not yield to ‘illogical’ IMF demands in bailout review

Greece wants a bailout review conclusion with its foreign lenders to take part in the ECB’s bond buying scheme but will not concede to “illogical” demands by the IMF for more austerity after its program ends in 2018, the government spokesman said.

“The government is aspiring for a deal that will lead to the country's inclusion in the (ECB's) quantitative easing program,” Dimitris Tzanakopoulos told a briefing on Tuesday.

“The government’s position is clear and it has been expressed categorically … our aim is to not yield to illogical demands by the International Monetary Fund, which insists on legislating precautionary (austerity) measures after the program ends,” he said.

Tzanakopoulos said that after a recommendation by the country’s debt agency, Greece would hire Rothschild & Co as advisor on its plans to issue government bonds in the future.

[Reuters]