Just like the first IMF report, which we correctly compared to the opening of a Pandora's box, and with which the IMF also obliterated the careful plans of the Troika, so with this follow up the IMF effectively crushes the glideslope of the latest Greek bailout process barely scraped together on Monday morning and has torn Pandora's box to shreds with the following summary assessment: "Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far."
Tsipras: Creditors said "There is no point in holding elections" in bailed out nation ~ link ~
It should be the Greek people that are reeling by another, even greater stunner, just spoken by the Greek PM during his TV interview: an admission from the chosen Greek "leader" that Greece, as a
sovereign nation, no longer exists:
- GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS
Earlier today, a "secret" IMF paper surfaced in which the Fund reiterates the need for EU creditors to writedown their holdings of Greek debt.
According to Reuters, who broke the story after reviewing the document, "the updated debt sustainability analysis was sent to euro zone governments late on Monday, and argues that 'the dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM.'" The IMF goes on to say that Greece’s debt will likely hit 200% of GDP over the next two years and will sit at a still-elevated 170% of output in 2022.
Either learn what money is or accept Mass Starvation as your nation's future ~ link ~
The following Four Points, if properly understood and acted upon, will save millions of Americans and hundreds of millions of people overseas from starving to death.
Fact One: The Only way out of a Depression is through Debt Cancellation.