This is a very good article by Wolfgang Münchau writing in the FT. It’s a RECOMMENDED READ. Check it out!
via Hail the outbreak of honesty about Greece’s bailout – FT.com.
I very much endorse this article and in particular the conclusion:
If the IMF is serious about its own analysis – and it should be – it should either force a policy change, or be ready to leave the troika.
Sadly, I fear that the EC and the German Government is likely to stick to excessive austerity, rather than face the political crisis of a U-turn.