{"id":9658,"date":"2015-07-03T08:03:23","date_gmt":"2015-07-03T13:03:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9658"},"modified":"2015-07-03T08:03:23","modified_gmt":"2015-07-03T13:03:23","slug":"the-troika-turns-europe-into-a-warzone","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9658","title":{"rendered":"The Troika Turns Europe Into A Warzone"},"content":{"rendered":"

The Troika Turns Europe Into A Warzone<\/a><\/h3>\n

So now they do it. Now\u00a0the IMF comes out with a report<\/a>\u00a0that says Greece needs hefty debt restructuring.<\/p>\n

Mind you, their numbers are still way off the mark, in the end it\u2019s going to be easily double what they claim. Not even a Yanis Varoufakis haircut will do the trick.<\/p>\n

But at least they now have preliminary numbers out. The reason why they have is inevitably linked to the press leak I wrote about earlier this week in\u00a0Troika Documents Say Greece Needs Huge Debt Relief<\/a>. If that hadn\u2019t come out, I\u2019m betting they would still not have said a thing.<\/p>\n

It\u2019s even been clear for many years to the IMF that debt restructuring for Greece is badly needed, but Lagarde and her troops have come to the Athens talks with an agenda, and stonewalled their own researchers.<\/p>\n

Which makes you wonder, why would any economist still want to work at the Fund? What is it about your work being completely ignored by your superiors that tickles your fancy? How about your conscience?<\/p>\n

Why go through 5 months of \u2018negotiations\u2019 with Greece in which you refuse any and all restructuring, only to come up with a paper that says they desperately need restructuring, mere days after they explicitly say they won\u2019t sign any deal that doesn\u2019t include debt restructuring?<\/p>\n

By now I have to start channeling my anger about the whole thing. This is getting beyond stupid. And I did too have an ouzo at the foot of the Acropolis, but I\u2019m not sure whether that channels my anger up or down. The whole shebang is just getting too crazy.<\/p>\n

For five whole months the troika refuses to talk debt relief, and mere days after the talks break off they come with this? What then was their intention going into the talks? Certainly not to negotiate, that much is clear, or the IMF would have spoken up a long time ago.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

The Troika Turns Europe Into A Warzone So now they do it. Now\u00a0the IMF comes out with a report\u00a0that says Greece needs hefty debt restructuring. Mind you, their numbers are still way off the mark, in the end it\u2019s going to be easily double what they claim. Not even a Yanis Varoufakis haircut will do […]<\/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":[2,5,6],"tags":[6191,2674,195,6869,200,204,279,1167,418,6939,2868,4969],"class_list":["post-9658","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","category-liberty","tag-atm","tag-automatic-earth","tag-debt","tag-debt-relief","tag-default","tag-democracy","tag-eu","tag-greece","tag-imf","tag-occupation","tag-troika","tag-warzone"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9658","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=9658"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9658\/revisions"}],"predecessor-version":[{"id":9659,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9658\/revisions\/9659"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}