austerity program Archives - Keep Talking Greece

ECB Vice: Austerity Program for Greece was indeed too harsh

May 16, 2018 Economy 3

The eurozone’s southern members have done enough to reform their economies and reduce risk in their financial systems for the bloc to speed up banking union, the vice-president of the European Central Bank has said, in an implicit criticism of German foot-dragging. In an interview with Financial Times, Vítor Constâncio, …

Guest post: Why IMF’s Greek program cannot work: wrong fiscal multipliers and wrong forecasts

February 10, 2015 Economy 34

Why is the Greek austerity program wrong and the bailout conditions totally wrong? Because the IMF “Multiplier” was wrong! Remember the International Monetary Fund report from June 2013 admitting that the IMF failed to realize the damage caused by the austerity and that IMF applied wrong fiscal multipliers? “Hence the …

“Greece is exiting the MoU” – any idea what does this mean?

June 16, 2014 Economy Comments Off on “Greece is exiting the MoU” – any idea what does this mean?

I’ve been hearing the Greek government saying the whole time that “Greece is now exiting the Memorandum [of Understanding]. Any idea what does it mean? I am asking this because me, common Greek, understands under Memorandum strict austerity and over-taxation and unemployment and recession”. Any idea what the Greek government …

EWG OKs €2.5bn to Greece, EU official sees €3.8bn program shortfall

July 26, 2013 Economy Comments Off on EWG OKs €2.5bn to Greece, EU official sees €3.8bn program shortfall

A good news and a bad news: the Euro Working Group approved the 2.5 billion euro bailout tranche to Greece. The announcement was made via …Twitter! The Euro Working Group of finance officials has approved the disbursement of a E2.5 billion aid tranche for Greece, European Commission spokesman Simon O΄Connor …

IMF Thomsen: competitiveness not enough, small businesses limit growth opportunities, no tax reductions

June 6, 2013 Economy Comments Off on IMF Thomsen: competitiveness not enough, small businesses limit growth opportunities, no tax reductions

Don’t get fooled by the IMF review officially admitting grave mistakes in the application of austerity program in Greece> Nothing will change in the fiscal adjustment program demanding the last euro drop even from the poor: the review urges the Greek government to stick to the implementation of the ‘wrong …

IMF review admits: Greeks, we screwed you with wrong program & false multipliers

June 6, 2013 Economy 8

The IMF’s review on its Greek program was released late last night. The 51-pages document on Greece’s fiscal adjustment program 2010-2013 is more than clear: The IMF screwed Greeks for three consecutive years. The IMF failed to realize the damage austerity would do. The IMF failed to predict the real …

Reichenbach: IMF admits austerity program mistake? No idea, no program revision…

February 6, 2013 Economy 1

What if the IMF officially admitted wrong multipliers and false calculations applied for the Greek austerity program. Horst Reichenabch, head of the EU Task Force rejects any discussion on a possible program modification. “At a time when Greece has managed to overcome the difficult phase of this program, I don’t …

Roumeliotis: “IMF Knew Austerity Program for Greece Impossible to Succeed”

July 27, 2012 Economy 1

It looks as if the IMF knew from the beginning the Austerity Program for Greece was far away from a possible success. This revelation comes from Panagiotis Roumeliotis, former representative of Greece to the International Monetary Fund. For one striking reason: Because as a member of the common currency area, the …

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