Contrary to the Greek Prime Minister’s previous contention that the IMF was no longer needed, the Greek finance minister has confirmed that the Greek government accepts that the IMF needs to be part of the bailout process. Mr Tsakalotos confirmed the decision this week following a stern warning from the EU that Greece must not ‘play games’ over the IMF. The IMF has held back from the latest bailout, citing insufficient reform pledges on pensions from Greece and Europe's reluctance on restructuring Greece’s debt, but confirmed that it has remained engaged in policy discussions with the Greek authorities on a continuous basis since the summer.