IMF warns Greeks face 'untenable situation' without bailout

27th April 2010, Comments 0 comments

The head of the International Monetary Fund warned Tuesday that Greece faces an "untenable situation" if it does not get help to remain solvent, according to the French daily La Tribune.

"If we do not help them, they are going to be in an untenable situation," IMF managing director Dominique Strauss-Kahn said in an interview posted on the paper's website and due to appear in Wednesday's edition.

"I am not saying that if we help them it will be easy. It will be difficult. The Greeks have to be aware that sorting out their public accounts, after several years of reckless overspending, will be painful and difficult.

"But there is no other solution," Strauss-Kahn said.

Greek officials are warning that their country will not be able to meet a key debt deadline unless it receives a bailout in the next three weeks.

Ratings agency Standard & Poor's on Tuesday downgraded Greece's sovereign debt to junk status.

© 2010 AFP

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