IMF: Greece Needs More Time

Extension

Updated Apr. 21, 2017 3:41PM EDT / Published Sep. 15, 2012 8:22AM EDT

Philippe Huguen, AFP / Getty Images

After a meeting of European finance ministers in Cyprus, Greek President Yannis Stournaras says that the possibility of extra time for Greece to meet its austerity goals is "on the table." Christine Lagarde, director of the International Monetary Fund, agreed, saying that there are several possible ways for Greece to adjust to its budget goals, and more time is among them. However, the country won't be getting an extension right away. Leaders are waiting to make a decision until October, after seeing whether the European Central Bank's bond buying program has any effect on Greece's troubled finances.

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IMF: Greece Needs More Time

Philippe Huguen, AFP / Getty Images