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Wednesday, June 5, 2013

IMF Report on Greece : June 2013

The Fund published its report on Greece (pdf) and P. Krugman comments on it .
The troika plan was clearly not realistic — and just about all of us on the Keynesian side were warning, loudly
e.g. listen to what Martin Wolf said to Charlie Rose back in May 2010.

Dean Baker names names in a recent column.

Another good take of the report is Neil Irwin 's column at the Washington Post -Wonkblog. He quotes from the report:
“Market confidence was not restored, the banking system lost 30 percent of its deposits, and the economy encountered a much-deeper-than-expected recession with exceptionally high unemployment.” Public debt remained too high, Greece waited too long to restructure its debt, and “structural reforms stalled and productivity gains proved elusive.”

Karl Whelan at Forbes says:
Congratulations to the IMF staff on a well-written and clear report.  I’ll come back later with more discussion of the lessons learned but for now I encourage everyone to read the report. 

PawelMorski (pseudonym) says: Hindsight is always 20:20 for sure. (don't fail to check it out).
Spiegel comments

Megan Greene at Bloomberg/Opinion

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