IMF’s New Greek Austerity Mea Culpa

The International Monetary Fund, in a new working paper, has admitted again it vastly underestimated the crushing effects of austerity on Greece even as it said it’s going to insist on more. The IMF last year tried to distance itself from a similar internal finding in the agency that said deep pay cuts, tax hikes and slashed pensions had seriously backfired and driven down expected tax ...

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