Austerity not enough to save Greece - leaked IMF documents
Even if Greece accepted all of the austerity measures demanded by its
main creditors, the Troika, it still would not be able to make ends
meet by 2030, according to IMF estimates revealed in a set of documents
obtained by a German newspaper.
The most optimistic
scenario shows that Greece would face an unsustainable debt in
2030 even if it agreed to the package of tax increases and
spending cuts proposed by the European commission, the European
Central Bank and the IMF in exchange for a five-month €15.5bn loan from its creditors.
These prospects were outlined in six documents that were part of
the “final” proposal offered to Greece by the three main
creditors on Friday. The papers were obtained by the German
newspaper Süddeutsche Zeitung and seen by The Guardian.
