IMF wants to block aid to Greece saying that "Athens will be in default as early as September"

The IMF wants to block economic aid to Greece. Der Spiegel writes that senior IMF officials have already communicated this intention to Brussels authorities, with the consequence of a likely default of Athens in September. The Troika, consisting of IMF, EU and ECB, is currently examining the way in which Athens is implementing the agreed reform program. However according to the Hamburg weekly "it seems clear that the Greek government will not reduce the public debt to 120 % of GDP by 2020".

In the event that Athens is given more time the Troika believes that this will result in a increase in aid of between 10 and 50 billion euros, which many Eurozone countries are not willing to bear. In addition, the Netherlands and Finland have made it a condition of participation in aid to Greece that IMF also will play a part. The Spiegel writes that, in the opinion of the eurozone countries, Greece's exit from the euro would be manageable.

Source and full story (in Italian):  Il Fatto Quotidiano, 22 July 2012