YEREVAN, July 31. /ARKA/. The board of the International Monetary Fund decided Wednesday that Greece was disqualified for any IMF bailout given its high debt levels and poor reform record, vestifinance.ru reports referring to The Financial Times.

The IMF decided last week that its existing bailout program, which was originally to run until March, needed to be scrapped because it could no longer achieve its stated goal of helping Greece recover to the point where it could return to private debt markets.

The IMF then forced Athens to request a new IMF program, which requires board approval, necessitating Wednesday’s meeting.

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The European Central Bank has signalled a tougher approach on bankers’ pay, announcing that it will launch an examination of bonus payments and share options made by lenders, vestifinance.ru reported citing The Financial Times

Categories: Banks @en, General news, News, News of the hour | Comments Off on ECB signals tougher approach on bankers’ pay

Tags: bank @en, ECB, The Financial Times

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