The International Monetary Fund (IMF) admitted to "notable failures" over the Greek bailout, including failing to get creditors to agree to a restructuring of the country's debt burden amongst many other failings.
In Brussels, the response from spokesman Simon O'Connor for the European Commission was withering, saying that restructuring the Greek debt earlier, as the IMF is now saying should have happened, would have led to "devastating consequences" for the then firewall-less Eurozone.
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