Schäuble, IMF and Olli Rehn: You’re going downhill again

The dramatic developments in Athens have alarmed Brussels. According to EU sources, at the time of the Eurogroup meeting the rupture scene that had formed in Athens had not yet been known.

European Community officials, finance ministers and IMF representatives heard the news later. They are expected to seek a full explanation of the situation in Athens by Finance Minister Y. Stournaras at the meeting of ministers in Ecofin.

Soon as they learned about the dramatic developments of the failure in the meeting at Maximos Mansion, the German Finance Minister said that Greece is in a very complicated situation, the Eurogroup chief urged the Greek authorities to continue implementing the reforms, while Commissioner Rehn called on Greek political leaders to show responsibility.

But also IMF's first reaction was to point out that if Greece were to be led to early polls it would discontinue its funding.