Greece needs no more austerity, cuts went too far – IMF

WASHINGTON: 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 said Monday.

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.