The IMF and the Crises in Greece, Ireland, and Portugal

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Series Details July 2016
Publication Date 08/07/2016
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Executive Summary:

A series of crises hit several euro area countries from 2010 to 2013. The crises, coming so soon after the global financial and economic crisis of 2007–08, and occurring in a common currency area comprising advanced and highly integrated economies, posed extraordinary challenges to European and world policymakers. This evaluation assesses the IMF’s engagement with the euro area during these crises in order to draw lessons and to enhance transparency. In particular, of the five financing arrangements the IMF concluded with four euro area members, this evaluation covers the 2010 Stand-By Arrangement with Greece, the 2010 Extended Arrangement with Ireland, and the 2011 Extended Arrangement with Portugal.

Source Link http://www.ieo-imf.org/ieo/pages/CompletedEvaluation267.aspx
Related Links
EurActiv, 29.07.16: Internal auditor hits out at IMF handling of Greece bailout http://www.euractiv.com/section/euro-finance/news/internal-auditor-hits-imf-handling-of-greece-bailout/
The Guardian, 28.07.16: IMF's own watchdog criticises its handling of eurozone crisis https://www.theguardian.com/business/2016/jul/28/imf-watchdog-criticises-handling-eurozone-crisis
BBC News, 28.07.16: IMF 'overly optimistic' about success of EU bailouts http://www.bbc.co.uk/news/business-36909107
The Independent, 28.07.16: Embarrassment for Christine Lagarde and IMF as Fund's own watchdog slams its eurozone record http://www.independent.co.uk/news/business/news/embarrassment-for-christine-lagarde-and-imf-as-funds-own-watchdog-slams-its-eurozone-record-a7160031.html
The Wall Street Journal, 28.07.16: IMF’s Internal Watchdog Rebukes the Fund for Its Handling of Euro Crisis http://blogs.wsj.com/economics/2016/07/28/imfs-internal-watchdog-rebukes-the-fund-for-its-handling-of-the-euro-crisis/
EUObserver, 29.07.16: Critical IMF report heralds new Greek bailout battle https://euobserver.com/economic/134532
Kathimerini, 28.07.16: IMF rapped for failures http://www.ekathimerini.com/210828/article/ekathimerini/news/imf-rapped-for-failures
Irish Independent, 29.07.16: Internal IMF report questions the fund's independence in bailouts http://www.independent.ie/business/irish/internal-imf-report-questions-the-funds-independence-in-bailouts-34921392.html
IEO-IMF: The IMF and the Crises in Greece, Ireland, and Portugal [PDF] http://www.ieo-imf.org/ieo/files/completedevaluations/EAC__REPORT%20v5.PDF
IMF: The Chairman’s Summing Up - The IMF and the Crises in Greece, Ireland, and Portugal - An Evaluation by the Independent Evaluation Office - Executive Board Meeting 16/69 http://www.imf.org/external/np/pp/eng/2016/072516.pdf
Social Europe, 30.09.16: Why The IMF Must Go Beyond A Mea Culpa Over Greece https://www.socialeurope.eu/2016/09/imf-must-go-beyond-mea-culpa-greece/

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