Submitted by Mike Shedlock via MishTalk.com,
In the wake of an IMF threat to back out of the Troika deal with Greece, Germany blinked under the IMF pressure.
Well, sort of.
The result was not quite the debt relief the IMF wanted, but it was more than Germany was prepared to offer yesterday.
Please consider Berlin Opens Way to Greek Debt Relief Talks.
Submitted by Mish Shedlock of MishTalk
Showdown! In Leaked Letter IMF Tells Germany “Debt Relief For Greece Or IMF Drops Out”
It’s showdown time.
The IMF has threatened it will pull out of the Greek bailout program unless Greece gets debt relief.
German Chancellor Angela Merkel, Austria, Finland, and the other Eurozone creditors will not like today’s development one bit.
Showdown!
Please consider IMF Tells Eurozone to Start Greek Debt Talks.
Submitted by Eugen von Bohm-Bawerk via Bawerk.net,
Greece was supposed to finalize a deal today with its lenders whereby in exchange for an "agreement" to implement already agreed upon budget cuts it would receive more funds from the Troika. However, as Reuters reports, "there will be no deal between Greece and its lenders on Friday that would unlock loans and enable vital debt relief talks, despite some progress on the reforms Athens must implement in exchange, euro zone and IMF officials said on Friday."
Submitted by Eugen von Bohm-Bawerk via Bawerk.net,
In the latest semi-annual Keynesian incantation spewed out by the world’s best pseudo-scientists, we learn that growth has been too slow for too long and that in itself is the cause of slow growth.