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Tag Archives: international monetary fund
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal On the heels of Thursday’s failed Eurogroup meeting and heading into what is again being presented as an all or nothing, “Lehman weekend” for Greece and its creditors, reports suggest the troika has offered Greece a third bailout program: GREEK CREDITORS OFFER EU15.5B […]
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike As reported earlier and as tipped here on Monday, markets will have to call off the party for now because the focus of the Greek debt deal negotiations has now shifted back to Brussels after all eyes had turned briefly to Athens on Tuesday […]
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal Who could have possibly foreseen that the IMF would throw up all over the Greek “proposal”… aside from this post here “Why The IMF Will Reject The Latest Greek Proposal In Just Two Numbers” yesterday afternoon of course. In any event, moments ago Bloomberg reported that just […]
Does The IMF Actually Want To Cause A Greek Debt Default?
Does The IMF Actually Want To Cause A Greek Debt Default? When it comes to geopolitics, there are often wheels working within wheels that are working within wheels. Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most […]
Will Seizure of Russian Assets Hasten Dollar Decline?
Will Seizure of Russian Assets Hasten Dollar Decline? While much of the world focused last week on whether or not the Federal Reserve was going to raise interest rates, or whether the Greek debt crisis would bring Europe to a crisis, the Permanent Court of Arbitration in The Hague awarded a $50 billion judgment to […]
History in Free Verse
History in Free Verse History might not rhyme, exactly, but it’s not bad for free verse. Greece is this century’s Serbia — a tiny, picturesque backwater nation blundering haplessly into the center stage of geopolitics. And the European Union is, whaddaya know, Germany in drag, on financial steroids. Nobody knows what will happen next in […]
IMF Violates IMF Rules, to Continue Ukraine Bailouts
IMF Violates IMF Rules, to Continue Ukraine Bailouts The IMF, whose bailout operations are absorbed by the taxpayers in the member countries whenever a particular bailed-out nation defaults, announced on Friday, June 19th, that it will “continue to support Ukraine through its Lending-into-Arrears Policy even in the event that a negotiated agreement with creditors in line with […]
“The Collateral Has Run Out” – JPM Warns ECB Will Use Greek “Nuclear Option” If No Monday Deal
“The Collateral Has Run Out” – JPM Warns ECB Will Use Greek “Nuclear Option” If No Monday Deal (via Corriere) Although estimates vary, Kathimerini, citing Greek banking officials, puts Friday’s deposit outflow at €1.7 billion. If true, that would mark a serious step up from the estimated €1.2 billion that left the banking system on Thursday and serves […]
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming The situation in Greece has escalated meaningfully since last week. After the IMFeffectively threw in the towel and sent its negotiating team back to Washington on Thursday, EU and Greek officials agreed to meet in Brussels over the weekend in what was billed as […]
What’s Next in the Greek Farce and Why
What’s Next in the Greek Farce and Why The Man They Hate with a Passion Euro area politicians and IMF bureaucrats really hate Yanis Varoufakis’ guts with a passion. The media are full with denunciations of the man as “unprofessional”, negotiators of the euro-group let it be known (anonymously, natch) that “it got to the point where […]
Starvation Is The Price Greeks Will Pay For Remaining In The EU
Starvation Is The Price Greeks Will Pay For Remaining In The EU Syriza, the new Greek government that intended to rescue Greece from austerity, has come a cropper. The government relied on the good will of its EU “partners,” only to find that its “partners” had no good will. The Greek government did not understand […]
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On Talks between Greece and creditors collapsed on Sunday after Athens once again refused to compromise on a the pension cuts and VAT hike the troika insists are necessary if the country is to receive the final tranche of aid from its second bailout program. We noted […]
IMF To Tsipras: “Do You Feel Lucky, Punk?” (But Who Has the Gun?)
IMF To Tsipras: “Do You Feel Lucky, Punk?” (But Who Has the Gun?) In the wake of the IMF walking out of negotiations with Greece, the Financial Times says the Pullout is Amid an “Air of Unreality”. What’s Unreal? Sure, everyone expected Greece to buckle. But what if Greece did buckle for the nth time? Greece […]
How The IMF Can Save Greece And Itself
How The IMF Can Save Greece And Itself There’s a Reuters article by Paul Taylor today that’s thought provoking, but not along the same line of thought that the writer follows (or the twist he gives to it). Taylor concludes that the IMF would love to wash its hands off Greece, but can’t because it’s […]
Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans
Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans EU officials turned up the heat on Athens Thursday after the IMF withdrew its team and sent its lead negotiators back to Washington. In what can only be described as a half-hearted effort, Greek PM Alexis Tsipras submitted two three-page proposals earlier this week […]
