April 27th in City News, Economy, Europe, IMF by Editor .
Europe’s Recovery IMF’ed
Here’s a quote you won’t find politicians trumpeting in their ‘positive’ election messages…
From Harvard Professor Kenneth Rogoff:
Bloomberg: “It’s more likely than not that we’ll need an IMF program in at least one more country in the euro area over the next two to three years,” Rogoff, a former IMF chief economist who has co-authored studies of financial and sovereign debt crises, said in a telephone interview. “The budget cuts needed in Europe in many countries are profound.”
…
The likelihood is “better than 50-50” that others in the 16-nation euro area will end up requiring help from the Washington-based lender, said Rogoff, 56.
Let’s hope we’re not one of them.
