With the backing of the US board members, overriding resistance from the European representatives, on July 2 the IMF published a preliminary report outlining the full absurdity of the programs so far. Instead of the 50 billion euros in privatization receipts scheduled in 2012, Greece had received 3.2 billion. The current program and all the variants haggled over since Syriza took office were unrealistic. No one who was serious would proceed on the basis that primary surpluses of 4 percent, massive structural changes and 2 percent GDP growth per annum were a realistic scenario.
