'Notable Failures' IMF Admits Major Mistakes on Greek Bailout

The International Monetary Fund conceded on Wednesday that it lowered its own standards on the Greek bailout, underestimating the effects of austerity and making overly optimistic projections for Greece's economy.
Municipal workers protest in Athens in April.

Municipal workers protest in Athens in April.

Alkis Konstantinidis/ dpa
chw -- with wires