Normally, the IMF demands countries boost exports by devaluing their currencies and cutting interest rates – but eurozone member Greece can do neither
The International Monetary Fund has a clear idea about what is wrong with Greece. The eurozone's weakest link has a serious fiscal problem, with excessive budget deficits leading to ballooning national debt. And it has a competitiveness problem caused by its costs being higher than those of fellow members of monetary union.
It is also clear that the bailout orchestrated by the IMF, the European commission and the European Central Bank will merely be a short-term fix unless it can help get Greece moving again. If it can't, it will be worse than useless. more...
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Normally, the IMF demands countries boost exports by devaluing their currencies and cutting interest rates – but eurozone member Greece can do neither
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