September 7, 2017 / 4:02 PM / a year ago

Europe must solve financial problems without IMF - Greek PM

ATHENS (Reuters) - Europe needs to set up institutions to resolve future crises of its member states without having to turn to “third parties,” such as the International Monetary Fund, for financial support, Prime Minister Alexis Tsipras said on Thursday.

FILE PHOTO - Greek Prime Minister Alexis Tsipras attends a parliamentary session on the collapse of Cyprus peace talks in Athens, Greece July 11, 2017. REUTERS/Costas Baltas

The IMF, alongside the European Union, has participated in two of Greece’s three foreign bailouts since 2010 in exchange for unpopular austerity measures.

“Europe must create the appropriate institutions... to be able to deal with its problems using its own institutions, its own financing tools,” Tsipras told reporters during a joint press conference in Athens with French President Emmanuel Macron.

“We are at the right moment... to move in this direction whereby Europe will be able to resolve its own problems without necessarily seeking support from third parties,” he said.

Reporting by Lefteris Papadimas; Writing Karolina Tagaris

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