euro coin Ulrich Baumgarten/ Getty Images

Schickt den IWF nach Hause

BRÜSSEL – Vorhang auf für einen neuen Akt des griechischen Schuldendramas: Die Finanzminister der Eurozone und der Internationale Währungsfonds (IWF) haben sich mit Griechenland geeinigt, auf Antrag des IWF dem Land einen gewissen Schuldenerlass zu gewähren und 10,3 Milliarden Euro Rettungsgelder zur Verfügung zu stellen. Griechenland seinerseits ist bereit, eine weitere Runde von Sparmaßnahmen und Strukturreformen einzuläuten.

Bis vor kurzem bestand der IWF noch darauf, er werde am nächsten griechischen Rettungsprogramm nur teilnehmen, wenn er die Schulden des Landes als nachhaltig einschätzt. Laut seiner letzten Nachhaltigkeitsanalyse ist dies nicht der Fall. Deutschland allerdings forderte, den IWF an Bord zu behalten – und angesichts des jüngsten Abkommens scheint sich das Land durchgesetzt zu haben, wobei es sich im Gegenzug mit einem bisher abgelehnten Schuldenerlass einverstanden erklärt hat.

Der Sieg könnte allerdings das Opfer nicht wert gewesen sein. Tatsächlich wäre es aus zwei Gründen besser gewesen, den IWF außen vor zu lassen. Erstens leiden dessen Bewertungen der Nachhaltigkeit griechischer Staatsschulden unter einem tiefen Interessenskonflikt. Und zweitens, was noch wichtiger ist, sind die IWF-Kredite zu teuer.

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