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The IMF warned Greece about the suffering in the event of the euro zone

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The IMF warned Greece about the suffering in the event of the euro zone

Post by Admin on Thu Jul 09, 2015 11:27 pm

In the current situation, Greece's economy is suffering, but it will suffer even more if the republic out of the eurozone. The corresponding estimate contained in the review of the Chief Economist of the International Monetary Fund (IMF), Olivier Blanchard (Olivier Blanchard), published in the official blog of the organization.

According to him, the world economy has withstood the stress tests of the last two weeks, and the effect of Grexit (from the English word Greece - «Greece» and exit - «exit") it will be limited.

"Whatever may have been dramatic developments in Greece, it must be remembered that the share of this country in the euro zone GDP is 2 percent and less than 0.5 percent - in the global economy", - said Blanchard.

"Nevertheless, the situation can be a lesson. The post-crisis world - a world with large debts. And we need a little bit to all spiraled out of control. In the future we are likely to see similar stories with non-financial institutions and companies ", - said the chief economist at the IMF.

Earlier, on July 8, Greece has sent the Eurogroup (Council of finance ministers of the eurozone countries) a formal request to launch a third program of assistance under the European Stability Mechanism. A day earlier, German Chancellor Angela Merkel has said that he sees no reason for the resumption of negotiations on the financial support of Athens.

July 5 in Greece held a referendum. On universal suffrage question was put on the introduction of the country's austerity measures demanded by the creditors of the republic in the face of the European Central Bank, the IMF and the European Commission. More than 61 percent of voters voted against the program.

glavcom.ua: In Russian


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