In response to Sargon's statement, it is important to reiterate that the IMF by its own reckoning got the "multipliers" wrong in Greece. I find this a good reckoning of what went wrong macro-ecomically in the conditionality of the loan package. That said, important to remember that the troika bailed out Greece to the equivalent of its GDP. Of course, all this decends to the havoc in the Greek labour market. It will take years to overcome
Duncan Campbell
Research Department
International Labour Organization (ILO)
4 Route des Morillons
CH-1211 Geneva 22 Switzerland
Duncan Campbell
Research Department
International Labour Organization (ILO)
4 Route des Morillons
CH-1211 Geneva 22 Switzerland
