6/6/2013

The International Monetary Fund says in an internal review that it made serious errors in Greece's financial rescue, including underestimating the recessionary effect of austerity measures. Restructuring of Greek debt, which happened in March 2012, should have been done much sooner, the IMF says. Getting European support for a faster debt restructuring would have been difficult because eurozone banks held a large amount of Greek bonds, the IMF says.

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