A report by the International Monetary Fund (IMF) in the dated August, 2009, shows that the economic crisis that struck Greece just a few months later was something that the IMF had foreseen according to Greek Lignite blogspot.

The report foresaw the financial derailment of the conservative New Democracy government of Kostas Karamanlis and possible bankruptcy that would follow.

Page 23 of the report states that “Greece needs a coherent sustained fiscal adjustment plan based on permanent measures that can be monitored closely to cement credibility.”

Debt following the Memorandum policies and austerity measures from 2009 onwards: