IMF admits ‘notable failures’ in 2010 Greece rescue

The International Monetary Fund admitted Wednesday that there were '"notable failures" in preparing the first Greek rescue that led to its failure and forced a second, larger bailout.

The IMF admitted going ahead with poor estimates of Greece's debt sustainability and its ability to implement structural reforms, and also suggested that it and its troika partners in the 2010 rescue, the European Commission and the European Central Bank, had problems coordinating in the bailout.

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