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Tag Archives: Lagarde

Reuters: IMF, EU Clash Over Greece’s Bailout prospects

 Madame and Madame have totally different points of view on Greece’s bailout. Christine Lagarde, head of  IMF, favors a new written off of Greek debt saying that the bailout program has failed. OK, she doesn’t say it so clear, but that’s the substance. Angela Merkel, German Chancellor and head of …

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How Much Extra Money Would Greece Need? “15 Billion Euro” says Greek FinMIn

How much additional money Greeks need, should the bailout program be extended for two years? On Monday, German weekly DER SPIEGLE claimed that the Greek budget shortfall was 20 billion euro. On Tuesday, German daily Sueddeutsche Zeitung claimed the shortfall is even bigger and ‘stamped’ the shocking number: 30 billion …

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Real News: SDOE Probes Three Former Ministers for Money Laundering

A ‘mega bomb’ exploded on Saturday in Athens when a weekly newspaper with front page “Testimony Burns 3 Ministers” claimed that two former ministers and the current parliament speaker have been alledgedly involved in money laundering scandal.   In its exclusive story Real News  refers to the written testimony of a real estate …

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IMF Applauds Itself for the Success its Bailout Programs

No, it’s not a joke. In IMF’s scores-reviews published on Monday, International Monetary Fund among other “applauded itself for the success of its bailout programs”… Hm… should I mention the wrong predictions on recession? The bailout programs that crash the health care system?  The end of welfare state? The grabbing of social contributions translated into sharp pension …

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Greeks Have a Good Feeling: Lenders Positive on Program Extension…

Greeks got the feeling, that the climate is changing, it’s turning from negative-rejecting to positive- supportive. Some hints in this direction came from here and there yesterday, claim the Greek media.  The country’s international lenders hint Greece may get the desired two-years extension. That apparently the total message from the Eurogroup meeting in Nicosia on …

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Lagarde: Not In a Mood for Negotiation with Greece

International Monetary Fund Managing Director Christine Lagarde said she is not in the mood to renegotiate the terms of Greece’s bailout agreement. “I am not in a negotiation or renegotiation mood at all,” Lagarde said in an interview on CBNC television Bloomberg reported. “We are in a fact-finding mood.” Officials …

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IMF Spokesman: “Lagarde Regrets Her Remarks [about Greece] Misunderstood”

The International Monetary Fund says Managing Director Christine Lagarde is expressing regrets for her comments about Greek suffering amid the country’s debt crisis. Lagarde told Britain’s The Guardian last week she has more sympathy for poor African children  than for Greeks suffering through economic problems and austerity measures. She also …

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WSJ: German-IMF Rift Stalls Greece Deal; PSI vs OSI

The PSI deal is here, there and everywhere… While Greeks, investors, several finance experts and journalists are eager to see the deal finally complete, it looks as if there is some rift that between two of Greece’s lenders and central players: Germany and the International Monetary Fund. Here is an excerpts from the interesting article by …

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Lagarde: No Satisfied with Greece’s Reforms

International Monetary Fund Managing Director Christine Lagarde said that she’s not satisfied with the progress Greece has made on structural reform. “We’re not terribly positive about what has been done but we want to put together a program for the country,” Lagarde said in an interview with Bloomberg Television from …

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PSI Haircut: A Dangerous Game Played on Greece’s Head

 It seems to be a dangerous game being played on the head of Greece. The debt-ridden country was sitting at the hairdressers’ chair surrounded by several evil scissors-holders arguing over the haircut-style. The customer had almost fallen asleep as he was deprived of the right to get involved in the argument. The …

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What Happened to Greek PSI? Don’t Panic & Fasten Seat Belts

New York, Berlin, Paris, Athens: the phones of  state officials, economists and bankers are ringing non-stop, brains are on fire and nerves lay blank as the PSI negotiations did not reach a deal over the weekend, ahead the EuroGroup meeting on Monday in Brussels. Men and women in business suits run nervously up and …

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Guest Post: Greece will Default But at What Conditions & Consequences?

Greece’s Finance Minister Evangelos Venizelos’s meetings in Washington last night were ‘celebrated’ here with missals (“Not Debt Restructure” Greek press) and flourish promises. Greek Fin Min told Greek media that the Troika will come back to Athens, the 6th bailout tranche will be released and Greece will meet all its …

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