The IMF’s diagnosis was that of a “synchronized slowdown” across the globe with the Fund revising its growth projection for global economic growth downwards and putting the 2019 growth estimate at the lowest level since the 2008-2009 financial crisis
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... of her crisis." With the exception of Mr. Samaras's narrow circle of advisers, everyone knows that this claim is bogus. In October, Mr. Samaras took another bold, but utterly inane, step in announcing that Greece was about to ditch the IMF and stand on her own two feet... Read more
... strategy.
Prospects
As the sovereign financial crisis and lower international ratings barred the PIGS from servicing their state debts, their gradual recovery from this catastrophic decline was only possible thanks to external credit lines provided by the European Union and the IMF. Except for Spain, assistance hinged on sweeping reforms, mostly aimed at consistent budget consolidation through curtailing spending and hiking taxes, which were developed and strictly monitored by the creditors. Along with the liberalized labor ...