Greece will NEVER recover under Europe’s brutal austerity plans – IMF’s shock warning

Greece’s bailout programme is not credible, says the IMF (Getty)

 

GREECE may never recover from its deep recession and financial crisis thanks to the brutal austerity measures demanded by its European creditors, the International Monetary Fund (IMF) has warned.

The debt-laden country has been set ambitious economic targets by the European Commission and countries such as Germany, which are not “credible” and will hamper growth, according to the Washington-based organisation.

Only through a “Herculean effort” will Athens be able to meet the demands of its creditors, and through slashing spending in vital services that will derail Greece’s long-term prospects, said the fund.

Next financial crash is coming – and before we’ve fixed flaws from last one

In case you missed it last week:

 

The next financial crisis is coming, it’s a just a matter of time – and we haven’t finished fixing the flaws in the global system that were so brutally exposed by the last one.

That is the message from the International Monetary Fund’s latest Global Financial Stability report, which will make sobering reading for the finance ministers and central bankers gathered in Lima, Peru, for its annual meeting.