Perissa Beach on Santorini in Greece. Source: Big Stock Photo
June 14, 2010
Karamalis government warned about economy says IMF
Also in the Sunday Kathimerini, it appears that the IMF was already warning the previous Karamanlis government about what was on the verge of happening to the Greek economy:
To say the least: this won't look good in the history books."The IMF expressed concern about Greece’s plummeting competitiveness and its pronounced fiscal imbalances, even though at that stage the true size of Greece’s deficit was not known. The Fund called on the government to take immediate action to rectify the situation and warned that the Greek bond spreads would soar and the country would pay a high cost to borrow on international markets.
Under the premiership of Costas Karamanlis, the conservative administration did not take any remedial steps."
Greece's Golden Visa program
