Submitted by Mike Shedlock via MishTalk.com,
The game playing in Greece gets curiouser and curiouser.
German finance minister Wolfgang Schäuble went on TV saying the only way Greece can get a haircut is if it leaves the Eurozone.
The IMF reiterated that Greece will not be able to make its payments.
Greece insists the IMF is wrong, yet it wants credit relief.
The Financial Times reports Greeks Escalate Bailout Divisions by Lashing out at ‘Misleading’ IMF Report.
Amid a more prolonged economic doldrums than The Great Depression, Greece is heading towards its 4th bailout/deal with creditors. Adding to Grexit fears (voiced by many in and out of Greece), Ted Malloch, President Trump's proposed US ambassador to the EU, casts doubt on survival of eurozone and says Athens should return to drachma.
With the IMF and Germany again at each other's throats over the neverending drama that is Greece, German Finance Minister Wolfgang Schaeuble repeated the same line he has used since the third Greek bailout from the summer of 2015, and in response to the IMF's demands for a reduction in Greek debt and fiscal surplus, the German ruled out a debt cut for Athens "as a violation of European rules", adding that "the country would have to leave the euro area to do so."
Via KeepTalkingGreece.com,
Submitted by Michael Shedlock via MishTalk.com,
For the umpteenth time, the IMF has warned that Greece cannot meet fiscal targets set by its creditors. And once again, the IMF insists that it will not be a part of the “Troika” unless the goals on Greece are realistic.
History suggests the IMF will cave in to Germany and agree to some half-baked plan (make that 1/8th baked plan) that will supposedly put Greece back on track. Such nonsense has been going on for years.
Mercy, Please!