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6/9/13

Greek opposition says: IMF mistake won't ease austerity - Efty Katsareas

An admission from the International Monetary Fund this week that it mishandled the early stages of Greece's massive bailout will not lead to any easing up of austerity measures, the crisis-hit country's opposition leader said in an interview late Friday.

Alexis Tsipras, leader of the left-wing Syriza party, told The Associated Press that bailout lenders and Greece's conservative government would not end the country's "ongoing drama."

Tsprias made the remarks ahead of an inspection next week of progress in implementing the €240 billion ($318 billion) rescue deal by high level from the IMF, European Union and European central Bank, collectively known as the "Troika."

"We don't expect a real (change). The troika admits making a mistake, and at the same time advocates the implementation of that mistake," Tsipras said, speaking on the sidelines of a meeting of European anti-austerity groups in Athens.

In a report this week, the IMF admitted mishandling the start of the bailout program in 2010, for failing to tackle private debt restructuring early enough and overestimating the capacity of governments in Greece to swiftly push through public sector and market reforms neglected for decades.

Read more: Greek opposition: IMF mistake won't ease austerity - StamfordAdvocate

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