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Spiegel: EU-Source Claims IMF Will Stop Rescue Aid to Greece

The German news magazine Spiegel reports that the IMF has told the EU it will provide no additional funds for Greece. The report has sparked fresh fears that Greece could fall into bankruptcy by the autumn.

A report by a German news magazine on Sunday sparked fresh concerns about the possibility of Greece being forced into insolvency.

In an article published on its website, Spiegel cites unnamed senior European Union sources in Brussels who told the news magazine that the International Monetary Fund (IMF) had signaled it would not contribute to any further aid for Greece.

According to the report, this makes the possibility of Greece going bankrupt more likely, and it could do just that as soon as September.

The  report comes ahead of a planned visit to Athens by a team of auditors from the troika of the European Commission, the European Central Bank (ECB) and the IMF. They are to conduct another inspection of the new government’s economic program to determine whether Greece is doing enough to comply with the terms of its second international bailout to merit receiving the next tranche of funds. (Spiegel (German) via Deutsche Welle (English)

 PS Why this notorious “EU source” does not shut the f*** up, is a wonder to me.
 

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14 comments

  1. wow if KTG has been moved to use f words things are bad indeed. all this political crap is for power games and its the little people who always end up paying. blackmail so that orders are followed and fearmongering. nothing new we have been hearing the same thing 2 years now.

  2. keeptalkinggreece

    fearf**mongering 🙂

  3. Indeed, but there is a bit more to this as well. There has been a good bit of tension between the IMF and the ECB on how to tackle the whole European/Euro crisis. The basic question is really “How big a bastard are we going to be to protect our interests?” and they are arguing about the magnitude of bastardness to apply.
    The IMf has also made it ver clear, in writing, that they will not contribute financially to the Spanish deal.
    here are the Terms of Reference
    http://www.imf.org/external/np/country/2012/esp/spaintor.pdf

    The IMF will only monitor and advice, no money!

    What they are really arguing about is the size of the plaster they are going to put on the damaged leg. Neither sees it’s a wooden leg…

  4. keeptalkinggreece

    ah, some market boys prepare a game for tomorrow…

  5. What is Greece to do?

    So far no serious reforms have been seen.

  6. giaoýrti giaoyrtáki

    Serious reforms are on track: Self organization of the suffering masses and Indefinite General Strike leading into revolution.

  7. keeptalkinggreece

    and after the revolution?

  8. Just like after any other real revoltion, and increasingly radical revolutionary government will turn life into hell for all citizens. It may last years (French revolution) or decades (Russian revolution). Only guys like Yoghurt would prefer that to democratic reforms.

  9. And what is so democratic about the “do as you’re told” stance adopted by your political masters? Even in the face of blatantly obvious visible evidence that it simply isn’t and can’t work?
    You really don’t need more than Amoeda intelligence to realise that. Which doesn’t say much for the commandatur currently barking the orders…

  10. If you rely and even demand foreign money, of course that will limit your range of democratic decisions, Ephi. There is no free lunch. If you go to a soup kitchen, you have to accept the rules of the donors. It’s your choice.

  11. giaoýrti giaoyrtáki

    Just suggestions because decisions are made in Public Assemblies. Moutza and destruction of power. Then come the helicopters to pick up the 300. More Moutza to say “Go to hell!” bye, bye. Public Assemblies. Rearrangement without money system. No banks – no chaos. No exports. Collective management. No bosses. No Government. No state at all because it’s all easier in small communities. A mixed of the Spanish Revolution and the Makhnovist Movement. Public Assemblies.

  12. keeptalkinggreece

    ufff! too much for my little brain. Much to my knowledge the public assemblies of Syntagma fell apart into 1,000 pieces of different opinions and approaches. So how do they want to rule a country?

  13. And what if you’re forced to the soup kitchen because those running it have denied you your own food?

  14. Icecream and chocolate chips, quick. Brain melt down!