IMF

IMF Admits "Notable Failures" in 2010 Greek Bailout

Including unrealistic optimism

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The International Monetary Fund on Wednesday confessed that there had been "notable failures" in dealing with Greece's first bailout program, which was launched in May 2010.

The Washington-based lender said in a report that it was too optimistic in its economic assumptions and felt that the debt restructuring should have been attempted at the onset of the crisis.