STOCK MARKET WATCH - Thursday, 22 March 2012

[Demeter]

7. Greece’s international creditors say risk-prone program may lead to missing 2020 debt target

NOBODY COULD POSSIBLY BE SHOCKED BY THIS

http://www.washingtonpost.com/world/europe/greeces-international-creditors-say-risk-prone-program-may-lead-to-missing-2020-debt-target/2012/03/20/gIQANRDtOS_story.html

Greece’s international creditors see “significant risks” that the country might fail to bring down its debt burden within targets, meaning it would require more rescue loans.

In a document seen by The Associated Press on Tuesday, they say Greece’s program of austerity measures and structural reforms “could be accident prone.”

“Authorities may not be able to implement reforms at the pace envisioned,” said the report by the International Monetary Fund, the European Commission and the European Central Bank.

The Greek program could lower debt to 116.5 percent of GDP by 2020, but the minimum target set by the bailout creditors is 120.5 percent by 2020...