The head of the IMF’s team for Greece Poul Thomsen admitted, in an indirect way, that the troika’s program for Greece was “obviously” not perfect.
Mr. Thomsen made the admission at a conference in Lisbon organized by the Portuguese newspaper Jornal de Negocios and Radio Renascenca, which was focused on the involvement of the troika in Portugal.
While the Dutch economist avoided making any direct reference to the Greek program itself, he conceded that the troika had excessively optimistic expectations regarding the effect of the bailout program.
This is the second admission of error on behalf of the troika, after recognizing that is had used incorrect fiscal multipliers in its estimations and predictions.