If there was an award for “Least Surprising Economic Development of the Last Half Decade,” the above question would be the runaway winner. As my colleague Fawad Razaqzada noted earlier this morning, “the International Monetary Fund has warned Greece that it is so far off course on its $172bn bailout program that it could potentially lose IMF support.” This leaves Greece caught between a rock and a hard place: Greece needs to secure its next tranche of bailout funds, but the members of the bailout “troika” (the ECB, European Commission, and IMF) all have different priorities for Greek reforms. Earlier today, a Greek ... (full story)