The International Monetary Fund is to admit that it has made serious mistakes in the handling of the sovereign debt crisis in Greece, according to internal reports due to be published later on Wednesday. Documents presented to the Fund's board last Friday will reveal that the Washington-based organisation underestimated the damage austerity would cause to the eurozone country, which has required two bailouts in the past three years.If only us hippies starting with well-known bleeding heart Paul Krugman had been listened to things might have been a good deal better -- and Greece might have a few less neo-Nazi parties, like Golden Dawn.
Oh yeah, and a lot less suffering -- and this. But when have the hippies ever been right -- other than consistently and in retrospect?
[cross-posted at Firedoglake]