In an internal report released on Wednesday, the IMF said there had been "notable failures" in the way Greece's 240 billion euro ($310 billion) bailout was handled, admitting that it had underestimated how much austerity measures would worsen the country's economic plight.
The European Commission on Thursday said it fundamentally disagrees with an International Monetary Fund report that places much of the blame for Greece’s botched first bailout on Europe, rejecting criticism that the EU should have consented earlier to a restructuring of Greek debt.
<p>The European Commission on Thursday said it fundamentally disagrees with an International Monetary Fund report that places much of the blame for Greece’s botched first bailout on Europe, rejecting criticism that the EU should have consented earlier to a restructuring of Greek debt. </p>
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