IMF getting ready to opt out of the Greek program

Besides some small steps of progress by Berlin, the meeting of the Washington Group and the session of the Euro Working Group ended on Thursday in Paris without any agreements on measures to ease Greece's debt, heightening the possibility that the International Monetary Fund will opt out of funding the Greek program.

The progress recorded on Thursday in the French capital concerned the German side showing more flexibility, mainly regarding the extension of the repayment time for the loans of the second bailout. But sources say the IMF officials are preparing for the Fund's exit from the Greek program as they say they cannot imagine how a deal can be reached so late in the program, ahead of its August 20 conclusion.

IMF spokesman Gerry Rice said on Thursday in Washington that negotiations are ongoing but he hastened to present the Fund's future mode of engagement in...