IMF Humiliates Greece, Repeats It Will Keep Funding Ukraine Even If It Defaults

Tyler Durden's picture

One week ago, we were stunned to learn just how low the political organization that is the mostly US-taxpayer funded IMF has stooped when, a day after its negotiators demonstratively stormed out of the Greek negotiations with "creditors",  Hermes' ambassador-at-large Christone Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt."

In other words, as Greece struggles to avoid a default to the IMF on debt which was incurred just so German banks can remain solvent and dump trillions in non-performing loans to US hedge funds and Greek exposure, and which would result in the collapse in the living standards of an entire nation (only for a few years before an Iceland-recovery takes place, one which Greece would already be enjoying had it defaulted in 2010 as we said it should), and as the "criminal" IMF does everything in its power to subjugate an entire nation, or else let it founder, the IMF told Soros' BFFs over in Kiev, that no matter if they default to its private creditors (in fact please do since Russia is among them), the IMF would keep the debt spigot flowing.

Courtesy of the US taxpayer of course.

Fast forward one week when, with Greece one step closer to a full-blown financial collapse, the IMF comes out and tell Ukraine - which already passed a law allowing it to impose a debt moratorium at any moment - not to worry, that even in a default it will keep providing unlimited funds. From Reuters:

Ukraine's efforts to strike a debt restructuring deal with its creditors will allow the International Monetary Fund to continue to support the country even if the talks are not successful, the head of the IMF said on Friday.


"I ... welcome the government's continued efforts to reach a collaborative agreement with all creditors," IMF Managing Director Christine Lagarde said in a statement. "This is important since this means that the Fund will be able to continue to support Ukraine through its Lending-into-Arrears Policy even in the event that a negotiated agreement with creditors in line with the program cannot be reached in a timely manner."

We will pass comment on this latest grand IMF hypocrisy and ask if Greece would rather be in Kiev's place which at the behest of "Western" leaders, it sold, liquidated, and otherwise "lost" all of its gold. Or, like Ukraine, Athens is willing to part with its $4 billion in gold just to appease the Troika as it sells all of its 112.5 tons of official gold to unknown buyers. A transaction which would buy Greece about 3-6 months of can kicking and a few stray smiles from Chrstine Lagarde.

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silverserfer's picture

Its made the handbag out of its own skin. 

Latina Lover's picture

The banksters have plundered Greece for most of what they want. The Ukraine, however, offers the opportunity to destablize Russia and steal the biggest prize in the world, Russian resources and territory.   Personally, I wish Putin would stick a nuke up the IMF's ass.

MonetaryApostate's picture

More Greece drama...   *Pukes*

Waylon Bits's picture
Waylon Bits (not verified) MonetaryApostate Jun 19, 2015 3:12 PM

From Lagarde's botomless handbag....

BarkingCat's picture

Lagarde is a bottomless hag bag.

If you take Cielis and your erection last longer than 4 hour, look at Lagarde's picture.

Instant cure.

Squid-puppets a-go-go's picture

THIS hypocritical situation is why fiat money supply is EVIL - writ large. Were america restrained by its gold holdings, it would not be ready to throw money at ukraine with the aim of goading russia into a mistake that will justify a wider war than that suffered by the ukrainians

Publicus's picture

World War 3 will once again be in Europe.

philipat's picture

Demonstrating again that the IMF is simply another tool of US foreign policy. And in turn why China and Russia are in the process of establishing a new Organisation (AIIB) which will be less politically-motivated and more with pure development and trade interests in play.

Luc X. Ifer's picture

Just wait for that gas pipes to start pumping and you'll see who's gonna dance sirtaki & kazachok and drink ouzo & vodka ...
Kalimera & Nazdrovje

Luc X. Ifer's picture

Yes, indeed very few talk about the little dirty secret - that in fact it is in Greece best interest to leave EU & Euro and that in fact ECB/IMF fight this to avoid acknowledging that the strategy of building wealth & growth for a very few by sneaking enslaving/generational debt into many others is not working

epicurious's picture

You forgot the sarc notation.  There will be very little difference between one set of oligarchs and another.  This is just another form of new world disorder.

Luc X. Ifer's picture

*Disorder* - the forever fear-mongering emotional-selling scare-crow of the status-quo in place. Indeed, a multipolar world is much better for the non-aristocrats for the same reason a true-free, non-monopolistic market is for the economy.

Milestones's picture

If my undertnding of the European Union charter is correct, the E.U. has no authority under that charter to THROW ANYONE out of the Union, there are NO provisions in said charter.

Further, if the E.U. tries to in some manner, to sanction Russia it requires a UNAMIOUS vote by said Union. 

Greece and Russia are playing footsie TODAY in St. Petersberg. What happens if Greece says NEIT to any such action such as sannctions--it goes down the toliet.

Pray tell, who really has the ace of trumps? I think we see the REASON this has been dragging out in such comical manner.


TheReplacement's picture

I think you mean NYET, not NEIT.  Boris will not be pleased. 

Meremortal's picture

Putin and the new Russian empire will be gone in 5-7 years. I'm fine with that.

The IMF will still be causing problems, unfortunately.

Just another workaround, there are many on the naked planet.


farflungstar's picture

What Russian Empire?

The AmeriKan and European dumbocrats keep saying that shit too, but then, I don't expect them to back their noise up with any actual facts.

Hasn't it occurred to you that Russia has more than enough unspoiled land within their own borders that they do not need to subjugate former Soviet countries that would fight tooth an nail against any sort of re-incorporation? No, the West's covetous ones are itching for that unspoiled land to plunder for themselves, free of charge. The "Russian / Soviet Empire" soundtrack is just a ruse for the rubes as the AmeriKans build up their forces in preparation for the day when they attempt to steal what is not theirs. 

Latina Lover's picture



Stratfor is pushing the meme that Russia will disintegrate within the next decade and the USSA will have save the world (tm) by rescuing Russia’s nukes from rogue elements.

Russia survived Hitler, Napoleon and the Bolsheviks but is now a doomed state, LOL>  This is why I cancelled my subscription. Why pay $$ when I can read the same BS for free,courtesy of the USSA state department?

Meanwhile, a decade back Goldman Sucks predicted that Russia would be richer than the USSA on a per capita basis.

WTFUD's picture

I used to be naive enough to subscribe to the MIC's/CIA Stratfor Disinformation. It's criminal that they feel they have a finger on the pulse when they'd be doing us a service having no pulse.

willwork4food's picture

I hope I don't muck things up too much here but don't forget that PUTIN alone is worth north of $70Billion. Something tells me he has NWO ranking and this is all a horse & pony show for the serfs of both Russian and the US and the world.

Farqued Up's picture

I gave you an upper on the reasoning, even though I have a bit of doubt about the 70 bill. 

Why do I think you MAY be right? FSA is carpooling to the space station with them. Something smells like a ripe dead shrimp in a bait bucket in the car trunk in the summertime.

Counterpunch's picture
Counterpunch (not verified) willwork4food Jun 20, 2015 9:46 AM

And I'm open to changing my mind but I believe this is a disinfo meme out of the Beltway.

1) what is the evidence of 70 billion?
2) what is the evidence, irrespective of 1, that Putin and theAnglo-Zionist Front, despite all the appearances to the contrary?
3) irrespective of both 1.and 2., why would the NWO/ZWO and Putin engage in theatre at all?

Again, I am open, but seems like naked disinfo.

angel_of_joy's picture

Stratfor is just George Friedman talking to himself in front of a mirror, and trying to sound convincing... Don't waste your money. A Russian partition is an old reccuring wet dream of our elites. Not a chance in Hell to become reality, but it sure feels exciting. Hence their bullhorn, the Friedman guy...

tbd108's picture

You are not a "meremortal", but a "merehalfwit." Russia has no debt, has more natural resources than any other country on the planet, and Putin is considerably more popular than Jesus. The bankrupt West is going down almost certainly long before 5-7 years ... huge external debt, sociopathic leadership, a broken welfare/warfare state, people who are not just ill-educated but positively clueless ... Assuming that you are putting your money where your stupid mouth is, hopefully your parents have a basement for you to stay in  with your pet rat when the fruit of actions of the West ripens.

TheReplacement's picture

Russia does have debt, not much but some. 

Russia is missing one important thing - population.  Maybe that is why China is being so nice - room for expansion.

Think of it.  The west and Russia destroy each other, one way or another.  At best the survivors will be very weakened.  What are 1.3B Chinese to do?  They could build lots of boats and planes to get across the ocean to a somewhat depleted and polluted America or they can walk north and west to vastly more resources and less pollution.  If I was China, this would be in the playbook.

Still, nukes, the ability and willingness to use them trump all.

tbd108's picture

It is true that the neo-cons/nazis are trying to draw the Russians into "nuclear combat" ... toe to toe ... (with respects to Slim Pickens) ... but so far Putin has refused to bite. Barring that calamity, the Russians have survived worse rivals (Hitler, Napoleon). They certainly have deep problems but at least their leader is not a racist half-wit tool of the Chicago mob and the New York/London banksters.

BoredRoom's picture
BoredRoom (not verified) tbd108 Jun 20, 2015 5:43 AM

Why do you repeat American Communist Party namecalling?? I'll bet you are too ignorant to know that's what you are doing.

Luc X. Ifer's picture

sweet dreams yo mortal brain

Ward no. 6's picture

did u give yourself the 1 ?

invisible touch's picture
invisible touch (not verified) Meremortal Jun 20, 2015 4:04 AM

i not see revolt in futur since sleeping in gaz simply never make you wake up again.


considering the greek population keep living without too much medias inceptions, bank run or not, this will go for more than a whole generation,  once that new generation of people will have raised in the no futur state of mind,  troika will have applied the core of the method to rest of europ  with help of TTIP and other stuff who unbalance internal economy and kill jobs making a societal collapse... 


6th animal exctinction started with eurozone.


problem with europ is they let their wealth flee outside, and in same time seek for external wealth to import by force.

locking & raising import taxe, relocalizing jobs and factories and pay fair price for local food production should do the job, i do not understand why they keep laminating themselves by letting the doors and windows open... it is just non sense for the masse who keep sleeping in gaz and wonder why their country is slowly dying.



Kirk2NCC1701's picture

LL, I'd settle for a Financial Nuke:  "GOLD FOR HYDROCARBONS!"1, EUs Guys

Unless you're a BRICS member.  Then you pay in Rubles or Yuan.

[1] Exchange-in-Kind: Real assets for Real Assets.  Keep your fiat, Miststück, Merkel.

bid the soldiers shoot's picture

true, LL

The banksters have plundered Greece for most of what they want. 

With the exception of naval bases in the Mediterranean, at the mouth of the Dardanelles, which, if leased to Russia, should put the NATO warships frolicing in the Black Sea on good behavior when they depart.

The Maidan started out as a win-win for NATO.  Either the Russians would cave in to their demands or join a neverending battle with the proxy Ukes.

Now the coalition is unraveling. Slovakia, Czech Republic Hungary, Italy, Austria have all expressed dissatisfaction with 'the world according to Noodleman.'

Finally, Rome wasn't built in a day nor will America be taken down in a day. 

CPL's picture

The snake always eats itself once it runs out of food.  That's just how the history of collapse works.

Jacksons Ghost's picture

The Spice must flow.

Bioscale's picture

I've read  about former Russian finance minister Kudrin suggests early presidential elections to speed up reforms in Russia. Another guy who was schooled by IMF to tell the old story that is currently happening in Macedonia, Moldavia, Ukraine maybe other countries.. Funny how IMF never calls for reforms in the USA.

Skateboarder's picture

When there's nothing left to sell, the people get sold. Or was it the people who got sold first. I don't remember, but the point of the story is, people get sold at some point. Every time, without fail.

WOAR's picture

Your eyeballs are the first commodity to be sold.

"Have fun at the circus, and here, take a bagette with you when you go..."

Now, instead of bread and circuses, we have Youtube/MSM/Pornhub and EBT cards.

What's that saying? Same as it ever was?

Bill of Rights's picture

The IMF itself is Humiliating so they've got something in common.

buzzsaw99's picture

the imf is just a tool of the usa ptb and an extension of usa foreign/economic policy. everyone knows that.

Oh regional Indian's picture

Word on conspiracy street is that reality is actually the opposite of what you state buzz.

It is the IMF that is the real capo in this deal.

Oh regional Indian's picture

Lending into our rears?

Sounds odd...also sounds greek...

What's the problem here?

Ness.'s picture

it's buying stocks time - very bullish this.

sablya's picture

It is a good decision from an investment perspective.  Greece is a money pit, always has been, always will be.  They'll never pay back from their own GDP.  Ukraine, on the other hand, has great potential because Ukrainians are technologically competent, able to manufacture, able to export high-end hardware and software.  If they can just get the oligarch leeches off them, and the Russian monkey off their back, they might have a great economy.  

kaiserhoff's picture

Some of the best farm land in the world, and a key cross roads location,

  but in a rough neighborhood.

Latina Lover's picture

Sablya, agree that the Oligarchs leeches  need to be removed, but the facts are that the Ukraine economy cannot function without working closely with Russia.  The EU will only exploit them whilethe USSA profits through their deaths.  If the Ukraine became an independent, neutral nation, brokering between the EU and the SCO, it could eventualy become a successful nation. But it will take decades to recover from it's economic implosion.

Neochrome's picture

Because EU is eager for more competition to their agricultural sector... Be honest to others and yourself, Ukraine has nothing that EU needs. Heard that same story about Kosovo and their mining industry, and yet first few months of this year saw exodus form Kosovo across Serbia that in some other times would be plastered all over the media as pictures of "ethnic cleansing". Only if it would be so easy, and west so eager, to grant them "political" asylums as in good old times...

Latina Lover's picture

The Germans wanted the Ukies as cheap labor to compete against China and other asian nations.

Bunga Bunga's picture

Bullshit. Germans did a lot of business with Russia, now they are suffering because of the Ukraine related boycotts. Germany has the technology, Russia the ressources, together they would be THE superpower. This whole Ukraine thing was just started by the US to prevent more economic and political cooperation between Europe, Russia and Asia.