Tuesday, 13 December 2016

Sensex, Nifty open flat

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Greece does not need more austerity at this time, and in fact spending cuts have gone too far already, two senior International Monetary Fund officials have said. If the eurozone country sticks to its agreement with the European Union to increase its budget surplus to 3.5 percent, contrary to the IMF's recommendation, then it cannot blame the fund if it must impose more austerity to do so, the officials said in a blog post yesterday. 
         
IMF chief economist Maurice Obstfeld, and European Department Director Poul Thomsen, who has been heavily involved with the negotiations with Greece, used the blog to defend the IMF against misinformation they say "turns the truth upside down.

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