IMF sees southern European free-fall begin to slow

Greek flag

The International Monetary Fund (IMF) today (January 18) released its latest staff reports on the struggling eurozone countries Portugal and Greece. Despite divergent outcomes and considerable risks, the reports suggested the coming year would be somewhat less miserable than 2012 for both countries.

Greece was in a much weaker position than Portugal, as its programme went off the rails in 2012 following a "severe political crisis", causing a number of targets to be missed. GDP undershot

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