Leaked Greek bailout document: Expansionary fiscal consolidation has failed
From creditwritedowns.com
Below is the leaked Greek bailout document that everyone has been talking about. Yesterday, the Financial Times wrote: Greece’s economy has deteriorated so severely in the last three months that international lenders would have to find €252bn in bail-out loans through the end of the decade unless Greek bondholders are forced to accept severe cuts in their debt repayments. The dire analysis, contained in a “strictly confidential” report by international lenders and obtained by the Financial Times, is more than double the €109bn in European Union and International Monetary Fund aid agreed just three months ago. -EU ...
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