"In a letter - leaked three days before eurozone finance ministers are scheduled to discuss how best to put the crisis-plagued country back on its feet – IMF chief Christine Lagarde issued her most explicit warning yet: either foreign lenders agree to restructure Greece’s runaway debt or the Washington-based organisation will pull out of rescue plans altogether." link
Echoes of the 2015 crisis here, where Lagarde and the IMF were at odds with the EC and ECB on a solution, with the IMF pushing hard on debt restructuring as the only way forward. But back then the IMF allowed a mindlessly dumb austerity solution to hold sway, though now it seems they might play hardball. And a year has passed during which things have only got worse.
Perhaps the EC and ECB and the critical nations have shored up their positions regarding a Greek default and the IMF is allowing them, only now, to play the game they want? Who knows. I doubt if even they do.
Echoes of the 2015 crisis here, where Lagarde and the IMF were at odds with the EC and ECB on a solution, with the IMF pushing hard on debt restructuring as the only way forward. But back then the IMF allowed a mindlessly dumb austerity solution to hold sway, though now it seems they might play hardball. And a year has passed during which things have only got worse.
Perhaps the EC and ECB and the critical nations have shored up their positions regarding a Greek default and the IMF is allowing them, only now, to play the game they want? Who knows. I doubt if even they do.
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