Schaeuble: If currernt Greek program obsolete, then a new one needed; warns Athens against such a prospect

A tug-of-war between European creditors, the IMF and Greece over the latter's bailout program continued to intensify this week, in light of German FinMin Wolfgang Schaeuble's latest comment of a need for a new program if the current one collapses with the Fund's departure.

"If there is not a positive outcome in negotiations for the second review (of the Greek program) and the IMF decides to leave, then the current program is obsolete," Schaeuble was quoted by the WSJ as saying.

He stressed that if the program is deemed as obsolete, "then we'll need to find something new ... I would not recommend something like this for the Greek government," he warned.

 In a later reply from Athens, the leftist Greek government's spokesman merely said if Schaeuble wishes to make recommendations, those should be directed at the IMF.
The spokesman, Dimitris Tzanakopoulos, made the statement during an appearance on local television station in the Athens area.

"We didn't say we wanted the IMF to leave; we said it (Fund) should not ask for unreasonable things and should clear up its stance (i.e. whether it will remain or not in the Greek bailout)," the government spokesman said.

The second review of the Greek program is now delayed, with on-again, off-again negotiations dragging on, but with previous deadlines falling by the wayside.