Simon Wren-Lewis — The IMF, Greece and economic reality

Will the IMF force Greece’s creditors to see some sense? The problem is that we have been here before, and the IMF backed down. It may be full of economists, but it is ultimately run by politicians who may have too many ties to those in the Eurozone. But as Ashoka Mody says, the IMF’s credibility is at stake. It should stop trying to pressurise the new Greek government into making reforms that contradict its election platform, and instead focus its efforts on getting the rest of the Troika to be realistic. Above all else, Greece must be helpedout of its depression as quickly as possible. Sensible macroeconomists, including those at the IMF, know that makes sense. If Yanis Varoufakis could not achieve this, perhaps the economists at the IMF can do better.

Mainly Macro
The IMF, Greece and economic reality
Simon Wren-Lewis | Professor of Economics, Oxford University