IMF, eurozone officials say some changes are possible

The new government to be formed in Athens will have to find out whether it has any leeway for renegotiation in its bailout agreement with the European Union and the International Monetary Fund -- and if so how much -- though there are signs that some changes will take place. IMF chief Christine Lagarde stated that “we can perform a new revision to Greece’s program,” which could start as soon as a new government is formed in Athens. “We have to update the situation,” she said, “as we do not know very well what has been implemented, what has been respected and what not in the last six to eight weeks.” After the initial Greek results came out, German Foreign Minister Guido Westerwelle said that the country may be allowed more time to reduce its deficit given that due to the elections all work in streamlining the economy had been frozen. However he did note that there cannot be any significant changes to what has already been agreed. Jean-Claude Juncker said that the Eurogroup, which he heads, is expecting to discuss the reform program with the new government, but that the core is not possible to change.  

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