The International Monetary Fund
on Wednesday confessed that there had been "notable failures" in
dealing with Greece's first bailout program, which was launched in May
2010.
The Washington-based lender said in a report that it was too optimistic in its economic assumptions and felt that the debt restructuring should have been attempted at the onset of the crisis.
The European Union and the IMF granted Greece's first rescue package worth EUR 110 billion in May 2010 followed by EUR 130 billion bailout in February last year.
http://www.rttnews.com/2131193/IMF-Concedes-Notable-Failures-In-Handling-Greek-Bailout.aspx
The Washington-based lender said in a report that it was too optimistic in its economic assumptions and felt that the debt restructuring should have been attempted at the onset of the crisis.
The European Union and the IMF granted Greece's first rescue package worth EUR 110 billion in May 2010 followed by EUR 130 billion bailout in February last year.
http://www.rttnews.com/2131193/IMF-Concedes-Notable-Failures-In-Handling-Greek-Bailout.aspx
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