Greek bailout plan now moves to the IMF Debate over Greece's rescue plan now shifts to the International Monetary Fund, which must decide whether it is willing to risk more on a bailout effort that the fund's own analysis shows has a strong probability of failing. The IMF has positioned itself as the last of several organizations that must sign off before Greece receives more international funding - giving the agency leverage over a rescue program it has struggled to keep on track for nearly two years. The statement released by European ministers early Tuesday morning in Brussels said only that there is an "expectation that the IMF will make a significant contribution" to the $170 billion deal. But fund officials have refused to say how much they might loan to the nation. The fund contributed about a quarter of the initial $140 billion bailout approved for Greece in May 2010 - far higher than what it has loaned to other nations in crisis. Fund board members have become increasingly concerned about the level of risk that lending to Europe poses to the agency, and whether loaning more to Athens amounts to throwing good money after bad. Although it is unlikely the IMF board would stand in the way of the Greek rescue, fund officials in private briefings and public statements have said that hurdles must be cleared in coming days before they are willing to approve new loans. That includes the completion of a debt restructuring deal in which private investors in Greek bonds will be asked to accept losses of 53.5 percent; approval of further lending by various European governments; and a series of "prior actions" by the Greek government such as overhauling local labor laws and finalizing a plan to reinvigorate the nation's banking system. In a statement Tuesday morning, IMF managing director Christine Lagarde said she would withhold any final decision on the loans until those requirements are met. "As soon as the prior actions agreed with the Greek authorities are implemented and adequate financial contribution from the private sector is secured, I intend to make a recommendation to our Executive Board," Lagarde said. An IMF analysis of Greece's financial situation, distributed to European ministers in Brussels, cited "notable risks" to the current bailout achieving its goal of putting Greece back in a situation where it can again borrow money on its own signature, and reducing its overall debt load over the next eight years to a manageable level. Private lenders may well be scared off by the sheer size of the loans Greece is now borrowing from agencies like the IMF and other European governments. Those loans would be first in line for repayment over any future private loans - which could make banks, pension funds or other potential investors hesitant to wade back into Greece, the IMF analysis said. The fund also acknowledged a "fundamental tension": Steps taken to improve Greece's public finances have been self-defeating - pushing the economy further into recession and worsening public finances. "The Greek program may thus remain accident-prone, with questions about sustainability hanging over it," the analysis concluded. The nation might require "prolonged financial support" beyond the three years envisioned for the new bailout deal.