Friday 3 July 2015

Friday, July 03, 2015 Posted by Hari 1 comment Labels: , ,
Posted by Hari on Friday, July 03, 2015 with 1 comment | Labels: , ,

KJ has it all explained to him by Fee, as usual...

SOURCE BBC NEWS: Greek debt crisis: IMF says extra 50bn euros needed, criticises EU plans
Greece will need an extra 50bn euros ($55bn) over the next three years to stabilise its finances under the existing, disputed bailout plans, the International Monetary Fund (IMF) says. The IMF also cut its forecast for Greek economic growth from 2.5% to zero. And it repeated its earlier suggestion that Greece needed debt relief in the form of extended repayment periods and lower interest rates.  The European Commission, the European Union's executive arm - one of the "troika" of creditors along with the IMF and the European Central Bank - wants Athens to raise taxes and slash welfare spending to meet its debt obligations. But in its report on the embattled Greek economy, the Washington-based global financial body says changes in Greek policies and its economic outlook since earlier this year "have resulted in a substantial increase in financing needs" not met by the existing proposals of either the government or its creditors.

1 comment:

  1. This article from 2011 opened my eyes to the real purposes of the IMF and the damage they have already done


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