IMF Says Ready To Continue Support For Greece

Tyler Durden's picture
  • IMF SAYS `WE STAND READY TO CONTINUE OUR SUPPORT FOR GREECE'
  • IMF SEES `POSITIVE OUTCOME' ON GREECE AT NEXT EUROGROUP MEETING
  • IMF SAYS SUPPORT SUBJECT TO ADOPTION OF AGREED GREEK MEASURES

And the EUR surges

From Market News:

Monetary Fund made it clear Thursday that financial support for Greece
is subject to completion of agreed upon economic reforms, and said a
"positive outcome" is expected at next week's Eurogroup meeting on
ensuring the aid program can be financed.

"We stand ready to continue
our support for Greece subject to adoption of the economic policy reforms agreed with the Greek authorities," Caroline Atkinson,
IMF director of External Relations, said in a statement.

"Progress
is being made in the discussions to ensure the full financing of the
program, and we anticipate a positive outcome on this at the next
Eurogroup meeting," she said. nnHowever, she noted that, "Conclusion of
the pending program review remains subject to approval by the IMF's
Executive Board."

An IMF team visited Greece
to complete the latest review, but no date has been set as yet for the
executive board to consider the staff report and recommendations.

nThe IMF statement comes after EU's Economic and Monetary Affairs
Commissioner Olli Rehn earlier Thursday essentially
announced that the EU is now playing for time in efforts to ensure
continued Greek funding.

Rehn sought to downplay expectations for the
upcoming Eurogroup meeting on June 19-20, saying only that he was confident it would agree on disbursement of a E12 billion tranche from Greece's
current E110 billion bailout package.

But Rehn said a new bailout of
around E90 billion (depending whose estimates you choose to believe)
will not be decided until the following Eurogroup meeting on July 11. nn** Market News International Washington Bureau: 202-371-2121 **

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CPL's picture

In other News Greece could give a shit about the IMF.

ZeroPower's picture

Fucking socialist hippy low-lifes. Good thing theyre acting cute posing for fb photos, should lead to easy arrests by the VanPD. 

trav7777's picture

yes, white people should know better than to act like this

JR's picture

These people - the Fed, the IMF/World Bank/BIS/ FSB/Goldman/JPM – are making their own money around the world on the backs of the peoples around the world.  It is the biggest heist in mankind’s history - a massive transfer of wealth to self-proclaimed “world governors,” draining all economies to the point they will need “assistance” from these despots.

IOW, these self-appointed “global leaders” don’t use value to buy value. They meet to steal the value through inflation (making money out of thin air) and then use contrived and fraudulent “loans” agreed to by duplicitous shyster finance officials to artificially bankrupt the “people,” and then take their property through taxes and confiscation of public-owned properties.

Who are they?  Just a bunch of unelected, greedy, daring self-styled bankers filled with chutzpah whose value pipeline goes from the American people (and other industrialized nations) through the Fed to the IMF/World Bank.

When America’s so-called House of Representatives authorized the Fed in the “Monetary Act of 1980 to “monetize foreign debt,” i.e., to create money out of nothing  for the purpose of lending to foreign governments, the Fed became the central bank for the world.

Until then, it was permitted to make money only for the American government

In G.Edward Griffin’s words: “The international version of the game called Bailout is similar to the domestic version in that the overall objective is to have the taypayers cover the defaulted loans so that interest payments can continue going to the banks.” 

The goal:  “It is the conscious and deliberate evolution of the IMF/World Bank into a world central bank with the power to issue a world fiat currency.” And, ultimately of course, world governance.

Could Greece be their fly in the ointment?

Bob's picture

Is this really a surprise?

SheepDog-One's picture

Kick printing presses into newly added 7th gear! FLOOR IT!

slow_roast's picture

Wow, what a quick pump and fade...

Cognitive Dissonance's picture

As you get older.........what can you do?

Cdad's picture

 

And exactly one algorithm, whose programmer is clearly on crack, listened.  Elsewhere, in the World of We're All Truly F'd Now...crickets.

It's too bad that Criminal Syndicate Wall Street bankers are not more literate...and familiar with The Boy Who Cried Wolf One Too Many Freakin' Times.  It is right at their reading level, and would help a grateful nation awaiting their very important learjet exodus.

I suspect this comment was designed to go hand in hand with the "China to save the day again" headline...providing a reason for PMs to be sold...in a plan to force more reallocation of funds in a way pleasing to Ben Bernanke, maker of the world's greatest wasteland.

 

 

carbonmutant's picture

The bigger the riot the bigger the bailout...

Cognitive Dissonance's picture

It seems the Greeks should take notes from the Vancouver riots from last night. Now there were some pissed off people. A hockey fan scorned..........

SheepDog-One's picture

Yes, strip the people of their jobs, their wealth, their homes, their rights....meh.

Now lose a hockey game, and the people LOSE IT!!

sabra1's picture

does greece have a hockey team? and if so, why not?

carbonmutant's picture

This is the difference between a real mob and a "state sponsored street rally"...

Cognitive Dissonance's picture

Controlled (or pacified) opposition takes on many different forms.

Sort of like staked out "free speech zones" at planned protests. Here you go folks. This 300 square feet out of 25 square miles is designated as the place where you can speak your mind in public. And yes, we believe 300 square feet is being generous. 

If you disagree......well......what are you going to do about it?

TruthInSunshine's picture

Bread & Circus isn't just for ancient, failing Rome, damnit.

p.s. Greek hockey fans bring octopus to the game for the tailgating.

Cognitive Dissonance's picture

From the '1984' Newspeak glossary.

“prolefeed” (the steady stream of mindless entertainment to distract and occupy the masses)

qussl3's picture

Cue Ireland asking for an interest rate cut in 3... 2... 1

rubearish10's picture

Quick, get me some Xanax. Never mind, are there still any Qualudes around?

SheepDog-One's picture

All world bankruptcies EASILY solved just by printing more piles of fiat currency! Why the hell didnt someone think of this before and save us all these centuries of troubles?

lolmao500's picture

Greek PM says new Greek loan from EU and IMF will be huge... as in hugely rapist of the greek people.

lolmao500's picture

Good one. With the politicians they have, the greek people are screwed. They need to hang some bankers and some politicians first.

SheepDog-One's picture

Nothing will change and the daily raping of the people will continue until bankers are swinging from ropes. End of story.

SheepDog-One's picture

All is well in Greece, not so much for the US taxpayer again however....once again, bend over.

topcallingtroll's picture

You know you like it that way.
Dont even pretend!

topcallingtroll's picture

You know you like it that way.
Dont even pretend!

lizzy36's picture

Isn't the issue now whether or not Greece stands ready to support the IMF?

I love that now all one has to do is whisper Lehman 2.0 and hundreds of billions will flow their way.

Sort of like how trillions were spent on two off balance sheet wars by whispering 9/11.

There are no negative outcomes anymore, merely soft patches ahead of bailouts.

 

Cognitive Dissonance's picture

Everything truly has become transitory since nothing lasts more than a few months or a year at most.

Here comes Recovery 3.0

taraxias's picture


There are no negative outcomes anymore, merely soft patches ahead of bailouts.

 

lizzy, you post some of the most brilliant stuff posted on here

huge hat tip from me girl

firstdivision's picture
  • IMF SAYS `WE WILL PRETEND ALL IS WELL AS LONG AS POSSIBLE
  • 10kby2k's picture

    Kick-eth the can.

    mynhair's picture

    Get with it.  Greece is contained.

     

    For the next 40 minutes, at least.

    SheepDog-One's picture

    Yes all is well for another half hour or so until Greece comes out with their own wire comments saying 'not so fast'.

    Bob's picture

    The "negotiations" are being done through the media.  If the Greeks continue to fill the streets, "investors" will blink.  They have no acceptable alternative.

    EscapeKey's picture

    Greek containment is transitory.

    TheFantasticMonkey's picture

    Well, when you can't find your way out, I guess the thing to do is to find a way deeper in.

    SDRII's picture

    GS says drive the market into the ground buy the bonds back at pennies and problem solved...see that was easy ft alphaville

    Dick Darlington's picture

    Like the plutocrats ever see "negative outcome" on their little experiments. They set up "tough" conditions in return for their "help" but they never keep those. Greece is the prime example. They are behind all of the targets which were supposed to be filled in order to get more "help". Not to mention the EU's involvement which is outright illegal.

    taraxias's picture

    Greece rescue announcement number 3478-A

    3478-B coming soon from the ECB

    3479 to follow from the EU

    3480..............

    falak pema's picture

    Who will run the show is the real question to ask : The people or the Oligarchy?

    The answer lies in that. As Greece is small , the Oligarchy will win. But the pain will be such that if there is contagion to other EU countries it could become pandemic. THAT would scare the shits out of the Oligarchy. As it would the resulting gridlock that would bring down their house of cards.

    The IMF hopes and prays the greek menace can be contained. With a bucket of USD.

    AbandonShip's picture

    Seems like Greece has IMF by the balls.

    Dr. Engali's picture

    Man we have the dumbest mother fuckers in the world running everything. How does this happen?