Managing Director of the IMF, Christine Lagarde is acting very un-IMF.
In a strange and peculiar about-face, the vulture fund that has decimated Greece for the last six years is suddenly urging creditors to cut the Greek debt.
Why the change in position? My guess…Washington has ordered the fund to cut Greece some slack out of fear that pushing the country over the edge would result in a geo-political pivot east…and a nightmare for Washington and NATO.
Via Sputnik News…
In order to make the Greek debt sustainable and payable, the country’s international creditors must reprofile it, Managing Director of the International Monetary Fund (IMF) Christine Lagarde told PBS television.
After Athens secured an additional bailout from its international creditors, the IMF recommended that EU members and creditors give Greece a 30-year grace period which would include an extension of repayment.
“It’s a matter of amount, how much of it [Greek debt] has to be reprofiled, so that Greece looks at the sustainable parts, and we believe that it’s a significant amount,” Lagarde stated Thursday.
The IMF chief also mentioned that a reduction on the amount of Greece’s repayments, known as haircut, might have to be necessary, however unpopular among creditors.
On Monday, an agreement on a third Greek bailout deal was announced after extensive marathon talks between eurozone leaders.
The Greek parliament ratified a set of austerity measures, a precondition necessary to receive the $95-billion bailout package, by a majority vote Wednesday.
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