With Greece once again teetering on the brink of default, a recent paper from the Centre for International Governance Innovation explores one episode in the amazing saga of how this tiny country came to threaten the viability of the euro, and left a damaging legacy for procedures and governance at the IMF.
When the Greek crisis emerged late in 2009, many European leaders believed the problems should be resolved within the eurozone, just as a financial crisis in one of Australia’s states would be resolved by Australian authorities without calling in the IMF to assist.
But the IMF, after a decade without …read more
