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IMF Lagarde: Uncertainty over Greek Bankruptcy and Forced Euro Exit

The danger of a Greek bankruptcy has not been averted. So said, Chief of International Monetary Fund Christine Lagarde in an interview to CBS News. Also a forced euro exit is still possible, she added. Is this Lagarde’s warning to Greek voters expected to go to snap polls in the next weeks? A warning to political parties? Or just a finding after thorough inspection of the IMF programme imposed to Greece? 

“All the countries in the Eurozone have tightened their belts to weather the recession, leading to economic slow-downs that could put other European countries at risk of defaulting on loans. Kroft also speaks to Christine Lagarde, head of the International Monetary Fund. “There’s still medicine to be taken. And that’s what’s happening in most of these southern Eurozone states at the moment, plus Ireland,” she says, adding that it is not certain that Greece will avert bankruptcy and a forced exit from the EU and its common currency, the euro.” (CBS NEWS)

Medicine successful, patient dead….

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6 comments

  1. I think I can answer the questions about the euro exit: it’s just plain simple common sense. It doesn’t matter what political choices we make. Anyone with half a functioning brain and a spreadsheet could have come to the same conclusion since the beginning of 2010. It’s just too bad that nobody in Greece had the guts to do what was necessary. If they had, the pain would have been over by now and we would be well on our way to recovery now.

    • keeptalkinggreece

      it was impossible to do in 2010, you can’t do it now. EUro zone Treaties have not predicted such a case

      • No disrespect KGT, but haven’t you noticed that the EU/troika rewrite the rules/laws as they go along, to suit themselves. Under the EUs own rules much of what they’ve done is illegal. It can’t be stated too many times, the EU could not care less what’s happening to the Greek people or any other European people, they only care about saving French/German banks and their beloved euro. When, not if, they work out a way that the banks and euro can be protected they’ll let Greece, fall quicker than the wind blows. At the moment they’re scared witless that if Greece pulls out of the euro than others will follow and the EU will being to become redundant, God willing) that is their biggest fear, their beloved Federal State of Europe not becoming a reality. Sadly, by the time the people of Europe wake up to the fact that the EU is NOT democratic organisation it will be too late……The death of the elderly man is tragic, though I fear he will only be one of many as they intend to push the Greek people to the very brink. May the man RIP.

      • Why is it impossible KTG?……. They knew in 2008 what was happening. They’re still pumping more & more of taxpayers money into keeping the euro and French/Germans banks afloat. Do you not think that if say France or Germany was in the position Greece was in they’d have taken all that’s been thrown at Greece, believe me the DM and Francs would have been back in circulation as quick as they could print them. Your politicans are doing the people of your country a great & dishonourable disservice backing the EU/troika, they and their families will remain well protected, while they don’t bat an eyelid if ordinary Greeks end up in the gutter. The people should ask the government what have they to lose by doing what Iceland did, not pay the unpayable debts, reintroding the drachma, they certainly can’t say jobs or the EU/troika are paying heating bills or keeping the cupboard stocked with food, they are doing absolutely nothing for the Greek people themselves.

        • keeptalkinggreece

          “people should ask the gov…” – Anon, it’s like knocking on deaf’s door

  2. A “forced” exit said by a person that is not even a member of EU, joke. Volunteer is possible but not forced. Anyway, their aim is and was all the time to force Greece into a volunteer exit so that “investors” can cash in sellout 50-70%.