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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 …

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 …

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