It’s been a year since the “memorandum of understanding” between the International Monetary Fund (IMF) and the Greek government was signed. It is now clear it has failed to deliver the country’s promised economic recovery.
As confirmed by the treasury data, Greece’s debt has risen rather than fallen.
At the same time, the impact on Greek people of the austerity measures demanded by the IMF has been devastating.
Official unemployment has reached about 16% — an all-time high. There are 787,000 people unemployed — 181,000 more than last year.