Merkel Expresses Optimism On Greek Bailout

(RTTNews) - The third bailout for Greece is likely to succeed as the government is taking right steps, German Chancellor Angela Merkel suggested in a television interview on Sunday, expressing hope that the International Monetary Fund will soon join the rescue.

Though the Greek government has made progress in implementing reforms, it remains to be seen if it will continue such performance, Merkel said in an interview to the German broadcaster ZDF.

The EUR 86-billion three-year bailout for Greece was approved by Eurozone finance ministers on Friday. The German parliament will vote on the deal on Wednesday. Some other national parliaments will also vote on the deal before August 20, when Greece has to make a EUR 3.2 billion payment to the European Central Bank.

Merkel also hinted that debt relief could be considered for Greece, which is a requirement set forth by the IMF to ensure its participation in the bailout. She also said that the severe migrant crisis faced by Europe was bigger than the challenge posed by Greece.