IMF economist: Doubts persist on whether EU can deliver on aid promise

In a paper, IMF chief economist Olivier Blanchard

• doubts the EU can deliver on aid promises.
• Other European nations do not need to take as drastic measures as Greece.
• The depreciation of the euro is not good news for the United States.
• Markets still doubt whether Greece will be able to repay its debts given its past history
• the EU-IMF bailout for the euro zone is sufficient, Blanchard says