By Julio Godoy* | IDN-InDepth NewsAnalysis
BERLIN (IDN) – Under different conditions, the recent admission by the head economist of the International Monetary Fund, Olivier Blanchard, that the Fund was dead wrong when it prescribed tough austerity measures to countries trapped in a sovereign debt crisis and in recession, would be a reason for satisfaction. But the price paid by the youth in Greece, Italy, Portugal, and Spain, to name only the European victims of the IMF ill advices, is too high for celebrating being right.