IMF Official Is Now In Athens Aiding EU Team On Greek Debt Crisis

Tyler Durden's picture

From Dow Jones:

The International Monetary Fund said Monday that a staff member is in Athens to assist a European Union team working to help Greece
deal with its debt crisis.

"At the request of the E.U. Commission and at the invitation of the Greek authorities, a fund staff member is in Athens this week to provide assistance to an E.U. Commission team," an IMF official said.

Greece has vowed to reduce its budget deficit from an estimated 12.7% of gross domestic product in 2009 (GDP) - by far the highest budget deficit in the eurozone - to below the E.U. limit of 3% by 2012. Greece has warned major cuts in public spending will be needed.

The E.U. has pledged political support for Greece and has hinted at financial assistance in the future. The E.U. has also imposed strict deadlines and monitoring for Greece's deficit-cutting program.

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CB's picture

Now everybody pull your pants down, bend over and open your wallets.

MsCreant's picture

Aw gee, CB, it's so sore already...

CB's picture

Look, I've got a tip for you - there's nothing a little (Soma) Prozac can't cure.

Mongo's picture

Technical fraud assistance its called

john_connor's picture

IMF bailout should mean rate pressure on biggest contributors, ie US, UK, Germany, & France.

 

deadhead's picture

Nothing to fear John....Ben Bernanke, savior of the phucking universe, is standing by with checkbook in hand and he has PLENTY of blank checks left and is just dying to continue the buying spree.  What a completely lame phuck Bernanke is.  

 

 

 

john_connor's picture

Hang in there, DH.  Bernanke will be deemed ineffective and forced out, and the fumes will run out on this thing.

Bernanke's academia theory on dropping cash from helicoptors only works if there are willing debt slave borrowers.

 

carbonmutant's picture

Looks like the Greeks were sleeping around...

Greece Said to Have Arranged Swaps With 15 Banks

 http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aViC_3fxSWK8

Rainman's picture

....and the Squid sprays some ink and slips quietly into the crowd of 15. Safety in numbers.

Anonymous's picture

Vote 'em out of office if they voted to fund the IMF.

akenathon's picture

Iceland is gone...Greece is gone...Ukraine is gone...Zimbawe is gone...Vietnam soon is gone too...Ireland and the UK...only rats are missing on the Street...Argentina will never pay back its debt...Venezuela is leading South America to a new "South-America"...California is broken...Pakistan is gone too with the accepted IMF help...Dubai will be taken over by Abu Dhabi soon...Bahamas to go back where they were 200 years ago...beautiful Seychelles are broken...most of Africa broken...and the US completely broken too...

The difference? With IMF getting in (I consider IMF like a leverage buyout that put even more power into the hands of those that are contributing to IMF itself...namely China and Japan) you have one side of the world that could be monetized (this is the case for Dollar economies) and you have another side of the world that will go into deep depression but with less monetary consequences...What is best??

MsCreant's picture

Monetize the earth. It is a ball of debt.

Anonymous's picture

+1

oops, with inflation it's +10,000

faustian bargain's picture

we need to find another planet we can dupe into funding us.

Hephasteus's picture

Does anyone know the dance that tells bee's about honey bonds?

Aww hell. Lady Gaga will do it by accident and save the world!!! LOL

Commander Cody's picture

Its all good.  Buy stocks, be happy!

Anonymous's picture

More trouble in the region ?

Here we are: Over 50 Turkish commanders held over coup plot
http://www.ajc.com/news/nation-world/over-50-turkish-commanders-321143.html

Anonymous's picture

Doesn't matter if an IMF official did naked lap dances or sat down and advised Greece. Until they give them my tax dollars it doesn't mean shit. When and if they do they'll end up setting the playbook for Spain and down the hill a euro will roll. Damned if they do and damned if they don't.

MsCreant's picture

I would think the USD would be the one in the crapper on this news...

MarketTruth's picture

Hey Tyler... Has this International Monetary Fund member ever worked for Goldman Sachs? Any way to find out as that would be a shot in the arse if they did?

MsCreant's picture

Haven't you figured it out yet?

WE ALL WORK FOR GOLDMAN SACHS!!!!

You pesky lil ole debt slave, you. ;-(

hussaifa's picture

If we work for Goldman Sachs, I would like my $700K 2010 bonus, please. Oh wait, you meant as share cropping slaves rounded up against our will. Right, I forgot. 

Anonymous's picture

The IMF was once in Argentina

Anonymous's picture

The WOLF has finally arrived

Anonymous's picture

They are after Greece's 100 tonnes of gold.

And then watch the media demonize Italy to go after its 2400+ tonnes.

Notice nothing about Ireland. Why? measly 5 tonnes

theprofromdover's picture

Ireland will be out of the Euro before Greece,

-if they have any belief in themselves, and have confronted their shame for buckling under and signing the Lisbon Treaty.

 

The future belongs only to the brave.

Cam-on Oirland!

moneymutt's picture

 

If the following op ed has not been re-posted on Zero Hedge, it should be immediately - Memo to Greece, make war on Goldman Sacs

http://neweconomicperspectives.blogspot.com/2010/02/memo-to-greece-make-war-not-love-with.html

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