What are the IMF and euro zone countries prepared to do for Greece?
No. 1, we’re going to do it jointly with the IMF. No. 2, we will ask the Greek authorities to face reality, disclose numbers, be honest about their statistics, and sort out their public finances deliberately, decisively, and facing public opinion. How much money is involved? The euro zone group will be in for the first year for 30 billion euros, which is roughly $40 billion, and then the IMF will kick in and finance its part as well. I’m talking about the first year of the program, which is going to be at least a three-year program. What demands are you placing on Greece? As Prime Minister [George] Papandreou said back in January, Greece’s biggest deficit is the deficit of confidence and lack of trust in the numbers and statistics Greek authorities have released in the past. The Greek government is determined to come clean. [And Greece must] restore public finances because at the moment it is running a deficit in excess of 13% of GDP and a debt-to-GDP ratio in excess of 100%. That has
