International Monetary Fund

Lawmakers in the European Parliament have sharply condemned the latest Greek bailout deal - reached after weeks of negotiations - which they say will lead to "Social Armageddon" and "too high a price to pay." As SputnikNews reports, heated exchanges over the state of play of the Greek macro-economic adjustment program were seen in the European Parliament this week, and divisions are also very evident within the Troika itself as obvious need for debt relief (IMF) is scuttled by Germany and the Eurogroup.

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."