Business | Daily | Tourist

Referring to Greece in an interview with seven major European newspapers, including Italy’s “La Repubblica”, International Monetary Fund (IMF) Managing Director Christine Lagarde expressed concern over the Greek economy’s medium-term prospects but also the fact that low and middle incomes had borne the brunt of the crisis. The interview was given last Tuesday and published in ‘La Repubblica’ on Saturday.
Lagarde said that much work remained to be done to improve the economy’s prospects and that this required a high level of cooperation, adding that there was a “rich spirit of cooperation” on the part of the IMF.
She disagreed with a statement made by Brazil’s IMF representative Paolo Nogueira Batista that IMF rules had been “broken” in Greece’s case, describing them as “inaccurate” and “clearly biased”. Among others, she noted that the IMF had carried out a study on the fiscal adjustment demanded of various countries and discovered that the effort required of the Europeans was significantly larger, in terms of volume and content, than that required of countries in the Middle East.
Noting the high cost demanded of the poor and middle classes, she said an effort was being made to change this and a system set up to transfer the cost of bank bailouts from the general public to the shareholders of the financial institutions that found themselves in difficulties.

The post Lagarde Has Medium Term Concerns appeared first on The National Herald.

Source: The National Herald
Share it now!
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    June 24, 2018, 12:58 am
    Partly cloudy
    Partly cloudy
    real feel: 24°C
    current pressure: 1010 mb
    humidity: 77%
    wind speed: 0 m/s N
    wind gusts: 0 m/s
    UV-Index: 0
    sunrise: 6:04 am
    sunset: 8:52 pm
  • Currency