Option Millionaires

[nlightn]

IMF: 2012 Greek bailout didn't work

In a report interestingly completed prior to Greece calling for a referendum on further austerity, closing its banks, and defaulting (excuse me, going into "arrears"), the IMF says the country would need another €50B in assistance - with about two-thirds coming from the eurozone and the rest from the IMF.

Even with better terms on possible future loans, Greece's debt-to-GDP ratio would decline to just 150% of GDP in 2020 from 175% today, says the IMF (the 2020 target set at the 2012 bailout was 124%).