Parties involved in the debt negotiations between Greece and its European partners are attempting to minimize risks to financial stability, the International Monetary Fund (IMF) said Thursday. "Any risks to financial stability could be minimized and addressed, and everyone is working in very good faith on all sides to make sure that will be the case," IMF spokesman Gerry Rice said about the negotiations. Greece's new leftist government offered major concessions Thursday as it formally requested the extension, but it immediately was faced with strong objections from Germany. The IMF's own loan program with Greece only ends in March 2016. While the IMF, European Central Bank, and European Commission had previously worked together on Greece's rescue, Rice said that it was unclear what the arrangements would be in the future. "What we're looking for ... is an agreed process that would help develop a credible, strong policy framework, which is essential to help stabilize the current situation and obtain or raise needed financing," Rice said about the IMF's Greek loan program.
