According to ERT news IMF’s projections for Greece are black: “deficit for 2012: 7% from 6.8% predicted in April and 2013: 2.7%, the debt will climb to 162.9% of GDP in 2012 and will continue upward and 2013, when it reaches 171% while the primary budget deficit this year will reach 4 billion instead of the 2 billion euro is the initial prediction of the memorandum".
The report highlights the need to take immediate steps to correct the specific financial discrepancies and to address the risk of reform fatigue: "The situation remains fluid in Greece. The recession and disparities in the implementation of reforms have been charged to revenue and lead to failures. If there is no change in policy since the primary deficit will move between 1.5% -2% of GDP compared to the estimate of 1% of GDP had been made in connection with the financing of Greece from the fund”.
Angela Merkel puts ice in any discussion about lengthening the program reiterating that nothing can be done until it receives at the hands of the troika's report.
Rendezvous in September for any discussion of elongation gives the president of the Eurogroup Jean-Claude Juncker: "Any extension of the program will mean additional funding for Greece. From this arise two questions. First, the Europeans are willing to pay the additional amounts; Secondly, will remain in the IMF program; "
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