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  • IMF threat to pull out of Greek bailout challenges Germany

    From reuters.com

    The International Monetary Fund's threat to pull out of bailouts for Greece unless European partners grant Athens massive debt relief poses a stark challenge to Germany, the biggest creditor, which insists on IMF involvement in any future rescue. The global lender has made itself unpopular with both sides in the Greek debt saga by playing its role as a teller of inconvenient truths without excessive diplomacy. Its latest intervention, saying in essence that Greece will never be able to repay its debt mountain, is bound to sharpen debate when the German parliament meets on Friday to decide whether to authorize ... (full story)

IMF? Nah.. an expression of Jack Lew exercise of American pressure.
This deal has the feel of uncle Sam's hand on their shoulder, must keep the US dollar as the base world currency at all costs.
A new drama begins: German parliament throws the new bailout out of the window, IMF walks away and Greece takes 5.
Greece - the new cashless society!



...but seriously, let us see if the Greek government throws it out first, decision due today.
Carbon-Dioxide: the gas of life!
Quoting 05renegade
This deal has the feel of uncle Sam's hand on their shoulder, must keep the US dollar as the base world currency at all costs.
More accurate than you know
Its something I never thought to say.. but I hope they do.

Ive just watched news video of the EG offer being scorned, spat on, abused, and put down. Like we OWE these people something?
And all over Europe people like me are watching this and thinking the same thing.
.
So.. No Problem IMHO.

Everybodys got to take a stand on what they believe in
I respect the Greeks dont want the money on the terms offered.

Now they need to understand that we, the 330 million citizens of the other EZ countries, are not prepared to offer it on any other terms.
And they got to respect that.

So GREXIT .
Not the end of the world. Just a sad unnecessary lesson in how NOT to organise things.
Im sure in the end everyone will getover it.
Granted the IMF report on the Greece debt sustainability is to be given due consideration by Europe but it strangely insist that a fat haircut be given now or risks having them walking off the new bailout program. How about IMF starts by giving a fat haircut first, forego the defaulted e.o. June repayment and dole out the 86B Euro that Greece badly needed next?
Quoting fxbombardier
Granted the IMF report on the Greece debt sustainability is to be given due consideration by Europe but it strangely insist that a fat haircut be given now or risks having them walking off the new bailout program. How about IMF starts by giving a fat haircut first, forego the defaulted e.o. June repayment and dole out the 86B Euro that Greece badly needed next?

Well the IMF has always been "do as we say" not "do as we do"
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  • Posted: Jul 15, 2015 10:26am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 8  /  Views: 2,370