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New measures, new cuts and a new rescue programme

31 March 2012 / 16:03:28  GRReporter
4648 reads

In this regard, the International Monetary Fund has developed an alternative scenario, which envisages a three-year delay of the required financial reforms and the ability to sell state assets at a slower pace than the one envisaged. According to this more negative scenario, between 2015 and 2020 the financial vacuum in Greece could reach 67 billion Euros.

In this case, the ratio of the Greek debt to GDP will swell to 171 percent in 2014 instead of the 160 percent provided for in the baseline scenario of the International Monetary Fund. In 2020 the debt will reach 146 percent of GDP, instead of the 117 percent provided for in the optimistic scenario.

Tags: Lucas Papademos LAOS Greece economy crisis banks insurance funds IMF
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