The IMF's public mea culpa on that big fat Greek bailout

It takes a big person to acknowledge he was wrong, and the International Monetary Fund has now repeatedly admitted to the failure of its euro-area rescue policies.

In its latest mea culpa last week, the Washington-based lender released a 50-page critique of the Greek bailout programme it devised in 2010, together with the European Commission and the European Central Bank. The IMF's report highlights how the so-called troika got that bailout wrong.

via Business feed http://www.scmp.com/business/economy/article/1257987/imfs-public-mea-culpa-big-fat-greek-bailout