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Greece and the IMF. CEPS Commentaries, 24 March 2010

Gros, Daniel. (2010) Greece and the IMF. CEPS Commentaries, 24 March 2010. [Policy Paper]

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    Abstract

    The stand-off among the members of the eurozone over whether to come to the aid of fellow member Greece has prompted a lot of speculation that Greece might turn to the IMF for support, an approach that now seems to be favoured by the German government. This Commentary by CEPS Director Daniel Gros finds, however, that while the IMF may have fewer political constraints in giving cheap money, it is unable to provide enough to make a lasting difference to Greece. Against modest gains, he asks in what position would Greece be if it went to Washington now and then had to come back to its EU partners later in the year? Gros acknowledges, however, that a loan from the IMF might serve the purpose of providing the EU with a convenient smoke screen to temporarily obscure the fundamental differences among the members on how the euro area should be run.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Other international institutions > IMF
    Countries > Greece
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 10 Aug 2010
    Page Range: p. 2
    Last Modified: 15 Feb 2011 18:34
    URI: http://aei.pitt.edu/id/eprint/14513

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