... Papandreou Memorandum of Understanding Economic policy Debt restructuring In 2010 the Greek government devoted itself to extending the repayment schedule of the first loan made under the terms of the first Memorandum. The Prime Minister put the matter ‘officially on the negotiating table’ at his meeting...

...The chapter examines the provisions of Greece's first Memorandum of Understanding with the IMF and the EU. It is argued that the targets set by the Memorandum were not realistic and the severity of the envisaged macroeconomic adjustment was unprecedented in the developed world. It is also argued...