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.
This article from 2011 opened my eyes to the real purposes of the IMF http://ind.pn/1IuOMuV and the damage they have already done
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