Why is the Greek austerity program wrong and the bailout conditions totally wrong? Because the IMF “Multiplier” was wrong! Remember the International Monetary Fund report from June 2013 admitting that the IMF failed to realize the damage caused by the austerity and that IMF applied wrong fiscal multipliers? “Hence the Troika and the bailout conditions for Greece are wrong and the Greek govt is perfectly within its rights to ask for new one, that is not based on errors” notes our economist friend Cheshire Cat, who sent us an article explaining the madness.