Little room for slippage in Greece plan

Greece has "little if any margin" for slippage on reforms under its new bailout program, according to IMF documentation for its loan to Athens released Friday. The International Monetary Fund, which decided a new 28 billion euro loan for Greece on Thursday said Greece could reach its debt reduction targets if it adhered to the tough austerity measures - including slashing minimum wages, trimming pensions and cutting 15,000 public jobs this year.
But it said there was little room to manoeuvre if Greece did not follow through. "In general, Greece has little if any margin to absorb adverse shocks or program slippages," the IMF said in its documentation for the Greek loan.