March 16, 2012 / 7:50 PM / 6 years ago

Greece would face disorderly euro exit without support-IMF

WASHINGTON, March 16 (Reuters) - Greece would face a disorderly exit from the euro zone without financial support from Europe, the International Monetary Fund and European Central Bank, the IMF said on Friday.

An IMF staff report on Greece’s 28 billion euro ($36.9 billion) rescue loan approved by the IMF on Thursday warned that Athens had no leeway to absorb adverse economic shocks or program slippage, which would push the economy into a deeper recession and worsen its debt profile.

Still, the IMF said if Greece left the euro zone area it would be “very costly,” and its economy would likely “not settle into a good, steady state.”

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