Greece should go to IMF, not EU for aid: Issing

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Greece should seek help from the International Monetary Fund rather than the European Union (EU) if the country risks defaulting on its debt, a former chief economist at the European Central Bank (ECB) said on Friday.

Otmar Issing, the chief economist from the ECB's inception until 2006 who was also a member of the Bundesbank's executive board, told the New York Times that the EU could not impose the necessary sanctions lest Brussels be made "too unpopular". The Fund was, he said, "the only inst

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