IMF and greece

Greece street

Could reforms have prevented Greece’s economic collapse?

Yiannis Mouzakis via Macropolis | Greece’s economic collapse in 2010-2013 has become legendary. The country had already been hit hard by the global financial crisis in 2009, when it posted a sharp GDP drop of -4.3 percent. This set the stage for what would become the deepest economic contraction of a developed country in history. But would the implementation of structural reforms have helped alleviate this situation?


Greece and the IMF

The IMF And Greece’s Bitter Pill

Yiannis Mouzakis via Macropolis | What you are going to read could very well be extracts from a Yanis Varoufakis interview in the first half of 2015, when – in a clumsy manner that rubbed everyone up the wrong way – he was advocating that Greece and its lenders should change course.


Christine Lagarde and Yanis Varoufakis

IMF squeezes Greece while pocketing the profits: €2.5 billion since 2010

MADRID | April 10, 2015 | By Ana Fuentes | Investors breathed a sigh of relief on Thursday when Greece met its IMF loan commitment of €460 million euro ($485 million). Markets are predicting that Athens and its creditors will reach an agreement, which would put an end to the standoff which has developed since the Syriza government was elected earlier this year. Still, creditors are using the leverage provided by the country’s current cash shortage to force Athens to make major reforms. Meanwhile they are pocketing huge interest from the outstanding loans.