IMF zaait weer twijfel Griekse redding
20 03 12 - 20:41
Uit het IMF rapport:
Given the time needed for the programme to work and for the [debt] trajectory to become self-sustaining, and given the significant uncertainties including risks to the evolution of growth and economy-wide prices, it is difficult to categorically affirm that debt is sustainable with high probability.The [IMF’s assent] is based on ambitious fiscal and privatisation targets and above all on reinvigoration of structural reforms. These will stretch the social fabric and the political determination to confront vested interests, but there is no room for slippage. In the event of slower progress in policy implementation, or failure of the economy to respond rapidly enough to reforms, completion of reviews may require additional support from Greece’s European partners on yet more concessional terms than currently envisaged, and/or another restructuring of bonded debt. In that case, and especially in light of the extra adjustment burden Greece is bearing, euro area member states and the ECB should stand ready to put in place the guarantees and assurances needed for Greece to maintain access to liquidity support from the Eurosystem.
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