In a late night meeting in Brussels, the IMF surrendered to German demands and agreed that talking about Greece’s debt will actually begin only after the Third Bailout ends in 2018. This is not-by-coincidence after the German elections in October 2017. Germany did not want any debt relief for Greece before the elections. This comes on the background of a strengthening of the right-wing anti-euro anti-immigration AfD party against Merkel’s CDU party. The IMF had demanded debt deferral and also “unconditional and upfront” debt relief and settled for 2018. While the IMF’s board still needs to approve the deal, and the IMF’s participation, it seems that the Washington based organization has basically waved the white flag. Greece will be granted the 10.3 billion euros in aid but paid a dear price in further tax hikes and social cuts. In addition, it committed to a 3.5% primary surplus target, something that is unfeasible also according to the IMF, which called this “counterproductive” and called for a maximum of 1.5% on the primary surplus. But did Schäuble and Merkel indeed manage to kick the can to after October 2017? Everybody knows that Greece will miss its targets and that the crisis will erupt sooner. Also within the IMF, we can expect less support from member countries that see their funds in danger. All in all, this is just another round in the crisis. The first bailout which was actually a bailout for French, German and Greek banks holding Greek debt is celebrating its sixth anniversary. Greek debt is higher, GDP is down 25% and unemployment is at 25%. Great success. More: IMF tells Europe: Transfer union or big upfront haircut for Greece Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Canadian dollar ready to rock Yohay Elam 6 years In a late night meeting in Brussels, the IMF surrendered to German demands and agreed that talking about Greece's debt will actually begin only after the Third Bailout ends in 2018. This is not-by-coincidence after the German elections in October 2017. Germany did not want any debt relief for Greece before the elections. This comes on the background of a strengthening of the right-wing anti-euro anti-immigration AfD party against Merkel's CDU party. The IMF had demanded debt deferral and also "unconditional and upfront" debt relief and settled for 2018. While the IMF's board still needs to approve the deal, and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.