IMF worried by social cost of Greek austerity

Budget cuts alone will not save the Greek economy as the country is reaching the "limit" of what society can endure, the International Monetary Fund's point-man for Athens has said, in a departure from the institution's traditionally more technocratic communiques.

"We will have to slow down a little as far as fiscal adjustment is concerned and move faster - much faster - with the reforms needed to modernise the economy," Poul Thomsen, a Danish IMF official overseeing the Greek austerity...