IMF demanding more austerity for Greece

Copies of the counter-proposal seem to show that creditors - at the behest of the IMF - want Greeks to carry out more in austerity measures while diluting other proposals such as corporate tax rates. For a Left-wing government such as Syriza who were elected on an anti-austerity platform, the combination is likely to be toxic.

The IMF's demands for more austerity - after five years in which Greece has undergone the worst depression in the modern age (beating 1930s America) - is also contrary to what most economists think is needed for the beleaguered country. It is likely to guarantee nothing but a perma-recession in Greece for the forthcoming years.