{"id":8193,"date":"2015-05-16T09:20:41","date_gmt":"2015-05-16T14:20:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8193"},"modified":"2015-05-16T09:20:41","modified_gmt":"2015-05-16T14:20:41","slug":"greece-will-default-on-june-5-without-deal-imf-leaks","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8193","title":{"rendered":"Greece Will Default On June 5 Without Deal, IMF Leaks"},"content":{"rendered":"

Greece Will Default On June 5 Without Deal, IMF Leaks<\/a><\/h3>\n

Another week came and went with no breakthrough in negotiations between Greece and its creditors. The IMF is now fed up and has reportedly refused to be a part of any new bailout program for Greece, after Athens\u00a0drew down its SDR reserves<\/a>\u00a0to makes its latest payment to the Fund. That money will now need to be repaid and in a move that surely marks the new gold standard for absurd circular funding schemes, Greece will likely look to use the next tranche of IMF money to payback its IMF SDR reserve which it tapped to pay the IMF. The country\u2019s public sector employees live in limbo, not knowing from one week to the next whether they will be paid and commuters are\u00a0now subjected<\/a>\u00a0to a 50 second looped highlight reel of the Nazi occupation meant to rally the country behind the government\u2019s quarter trillion euro war reparations claim (they might as well just ask for a ‘gagillion’) on Germany which has now become the symbol of tyranny and debt servitude for many Greek citizens.<\/p>\n

Given the situation, one would be inclined to think that Alexis Tsipras would be falling all over himself to cut a deal with creditors because while giving up on campaign promises to voters isn\u2019t ideal, it\u2019s better than going down in history as the PM who sent the country careening into a drachma death spiral, and besides, giving up on campaign promises is something most politicians do all the time (it\u2019s a job requirement for the US presidency). Alas we were back to the now ubiquitous \u2018red line\u2019 rhetoric on Friday as Tsipras continued to employ the \u201ctell EU officials one thing behind close doors and tell the public the exact opposite a day later\u201d negotiating technique. Here\u2019s more from Bloomberg:<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n

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Greece Will Default On June 5 Without Deal, IMF Leaks Another week came and went with no breakthrough in negotiations between Greece and its creditors. The IMF is now fed up and has reportedly refused to be a part of any new bailout program for Greece, after Athens\u00a0drew down its SDR reserves\u00a0to makes its latest […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2872,2504,195,200,1167,418,434,1085,1086,2236],"class_list":["post-8193","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alexis-tsipras","tag-athens","tag-debt","tag-default","tag-greece","tag-imf","tag-international-monetary-fund","tag-sdr","tag-special-drawing-rights","tag-syriza"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8193"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8193\/revisions"}],"predecessor-version":[{"id":8194,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8193\/revisions\/8194"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}