Greece, Ireland, Portugal face hard fiscal change-IMF

WASHINGTON, April 11 (Reuters) – Greece, Ireland and
Portugal face very difficult fiscal adjustments, the
International Monetary Fund said on Monday, and programs for
the three countries were based on the assumption that they
would honor their guarantees.

IMF officials told reporters that house prices in Spain had
some way to go on the downside, but banks could handle the
price depreciation without serious trouble.
(Editing by James Dalgleish)

Greece, Ireland, Portugal face hard fiscal change-IMF