The Financial Times quotes Global Business and Economics Program Director Andrea Montanino on why the International Monetary Fund’s credibility is on the line regarding Greece’s May 12 payment deadline:
“If there is a failure in the Greek case this to me will have a big impact on the credibility of the IMF,” says Andrea Montanino, a former IMF board member who now is at the Atlantic Council in Washington. “If Greece fails people will start questioning whether IMF policies really work . . . It is absolutely in the interest of the IMF that this does not happen.”
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“The whole world is looking at what Greece will do on May 12,” says Mr Montanino. “This is not about technicalities. This is about market reaction.”