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The Greek tragedy of being rescued by a flawed system

Rather than help Greece, the IMF's May 2010 programme was designed to protect specific political and financial interests in other member states, above all France and Germany.

THE mismanagement of the euro crisis has its roots in the currency area's flawed political structure. A study of the European Union and International Monetary Fund (IMF) programme imposed on Greece in May 2010 highlights both the nature of the problem and the difficulty in resolving it.