Greece's ex-IMF representative gives evidence in bailout probe

Greece’s former representative at the International Monetary Fund, Panayiotis Roumeliotis, was questioned for five hours on Thursday by financial prosecutor Grigoris Peponis, who is investigating the circumstances under which Greece agreed to its EU-IMF bailout in 2010.

Judicial sources said Roumeliotis’s testimony on Thursday was significant and has opened new avenues of investigation. They added that there is a high probability that Peponis will end up sending the results of his probe to Parliament so it can carry out its own investigation.

Peponis’s investigation is focussing on whether there was a breach of faith against the state or the national economy was damaged. The primary aim of the probe is to ascertain whether public officials should face charges, but it is possible that politicians will also be investigated.

Panayiotis Roumeliotis told The New York Times last month the Greek program “was impossible to be implemented.”

Aides of ex-Prime Minister George Papandreou said Roumeliotis had never expressed these qualms while in his post.

Roumeliotis responded by asking Papandreou to explain whether he was aware of former IMF chief Dominique Strauss-Kahn’s reservations about the program, why Greece did not request a debt restructuring and why it accepted a high interest rate and brief adjustment period.


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