IMF officials have privately expressed concerns about whether the Greek economy is viable enough to survive, even with currently contemplated levels of financial aid
The NYT writes that
The magazine said the IMF saw three options: either Athens enacts further austerity measures, private creditors write off more of their investments in the country’s sovereign debt, or states in the euro zone increase bailout aid.
Up to this point, private investors have resisted further write-offs. Some are European banks that could barely sustain more losses. Austerity is also a problem. Greek citizens have continued to strike over current measures. Many economies believe that any chance for GDP growth would be ruined by more budget cuts. It is also unlike that the most powerful nation in the region–Germany–would agree to provide additional financial aid.
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