In an interview with Germany's Der Spiegel magazine, Klaus Regling - who heads the European Stability Mechanism (ESM), Greece's largest creditor with 133 billion euros in 30-year loans already disbursed at an interest rate of 1.5 percent, is quoted as saying "there will be no debt restructuring."
Managing Director of the International Monetary Fund (IMF) Christine Lagarde said on Tuesday that it was a “matter of honour” for the IMF to acknowledge its forecast error on the fiscal multipliers in the case of Greece and other Eurozone member states.
An article in today's Handelsblatt financial newspaper states that the IMF plan casts doubt on how Ms Merkel has handled the crisis, referring to the differences between Berlin and the IMF on how to save overdebted countries.