'It will not be a road paved with roses', said Lagarde (Photo: Consillium)

Lagarde: No IMF in Greek bailout without debt relief

The International Monetary Fund (IMF) will take part in a third Greek bailout only if there is a "complete" programme including a restructuring of Greek debt, the IMF director Christine Lagarde said Friday morning (17 July).

The up-to €86 billion bailout plan "is not viable" without debt relief, Lagarde told France's Europe 1 radio.

"That is why European countries admitted the principle of debt relief" in the euro summit statement signed Monday (13 July), she added.

While se...

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