IMF’s Lagarde Says Italian Reforms Lack Credibility

BBC News – IMF’s Lagarde says Italian reforms lack credibility.

Italy has agreed to the monitoring of the reforms by the IFM but the Italian government has failed to implement the reforms (to be monitored) yet.

In the interim, the Greek PM has resigned and a coalition government has been formed in Athens. It is expected that the new Greek government will accept the EFSF bailout.