WASHINGTON (Reuters) – The global financial leaders on Saturday rushed to secure aid for Greece in debt, while Canada warned that some European countries feared that 45.00 million in consideration for the Hellenic country are not sufficient.
Talks on Greece dominated the annual meetings of the International Monetary Fund (IMF) and World Bank, a day after the country yield to market pressure and requested a rescue package of 45,000 million euros (60,500 million) collected by the European Union and the IMF.
“Some countries think it is not enough,” he told reporters Canadian Finance Minister Jim Flaherty when he asked about the amount of the aid package that is negotiated for Greece.
“Some of the countries of the Group of 20, including some European countries,” he said, when asked which countries were concerned. “There is concern that the package be sure enough that”s a one time event,” he said.
Flaherty said the consensus of the G-20 was that the crisis in Greece could be contained, if it is faced with quickly, with little risk of spread throughout Europe.
The IMF chief, Dominique Strauss-Kahn declined to speak of Greece despite repeated questions press. He said the package details will be available only after the negotiations are completed antennas.
In previous hours, the finance minister of Greece, George Papaconstantinou, met with Secretary of U.S. Treasury, Timothy Geithner, who stressed the need for rapid response to the crisis.
“The Secretary Geithner encouraged them to move quickly to implement a strong package of reforms and substantial support Financial Specifically, the Treasury said in a statement released shortly after.
market fears that Greece could suspend payments on debt and budget problems are worse in other economies the euro area and Portugal and Spain, have cast a shadow over the IMF meetings in Washington.
One of the obstacles to get the help that Greece is that any money from Germany requires approval parliamentary challenging due to strong public opposition ahead of a key regional election on May 9.
German Finance Minister, Wolfgang Schaeuble, invited congressional leaders to hold talks on Monday in Berlin to try to speed up the process.
Schaeuble did not travel to Washington for annual meetings of IMF and World Bank due to health problems, and sent his second in command.
GERMANY, ABSENT
Economy Minister Alistair Darling, asked by reporters whether Germany was holding a speedy resolution of the Greek crisis, he noted that Berlin was not represented at ministerial level meetif74ngs in Washington.
“No one is criticizing anyone,” said Darling. “What I do think it is absolutely imperative not only to the extent of the IMF agreement with Greece as soon as possible but also essential that the euro zone countries fulfill their obligations in relation to already agreed to make funds available for Greece, “he said.
Many Germans are upset by the idea of bailing out Greece, which accumulated a large budget deficit and admitted that previous data were inaccurate debt. Some German newspapers said on Saturday that the only option was to leave for Greece in the euro area.
Papaconstantinou also met with President of the European Central Bank (ECB), Jean-Claude Trichet and Olli Rehn, Commissioner for Economic and Monetary Affairs of the EU.
Rehn said on Friday that funding for Greece would be ready in early May. Would be the first bailout of a member of the eurozone.
Greece racing against time to meet with a bonus of 8,500 million euros to expire on May 19. ( Additional reporting by Emily Kaiser, Sumeet Desai, Louise Egan and Paul Eckert, editing by Marion Giraldo Spanish and Ines Guzman)