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In comments made at the Brookings Institute think-tank in Washington, D.C. on Wednesday, the Managing Director of the International Monetary Fund (IMF) said Greece was in an “acute crisis, which needs to be addressed seriously and promptly.”
Christine Lagarde said a new plan moving forward to shore up Greek finances would require reform in Athens, but it would also require concessions from the country’s creditors.
“The other leg is debt restructuring, which we believe is needed in the case of Greece for it to have sustainability,” she said.
via Lagarde calls for Greek debt restructuring | News | DW.COM | 08.07.2015.
As policy makers know well — and Germany perhaps better than any — major debt overhangs are solved only by writing down the debt. And the longer the delay, the deeper the pain.
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via Economic Scene: Germany’s Debt History, Echoed in Greece.
ATHENS, Greece (AP) — The latest news on Greece’s financial woes and its upcoming referendum on Sunday (all times local):…
via The Latest: Greek PM urges voters to ignore scaremongers.
The fund conceded an argument long made by Prime Minister Alexis Tsipras, even as it blamed the current government for making matters worse.
via I.M.F. Agrees With Athens That Greece Needs Debt Relief.
Culture War is Class War disguised. The Wealthy Elite--the "Filthy Rich"--foment Culture War in society to distract and cover their real economic motives. Culture War, Class War explores the resulting cultural divide--how it was instigated and kept alive for fifty years in America by certain elite powers and how and why they choose to benefit while tearing families in two and keeping America paralyzed.
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