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Greece Set To Restart Negotiations, IMF "Ready To Assist" Greece, Lagarde Says
Just hours after receiving a clear mandate from the Greek people to stand firm in the face of calls for more austerity, the Greek government, squeezed by an acute liquidity shortage in the collapsing banking sector, is set to head back to the negotiating table seeking to "restore liquidity" and find a "sustainable" solution to the country's debt problem. From Bloomberg:
- LEADERS OF GREEK RULING AND OPPOSITION PARTIES ISSUE JOINT STATEMENT BACKING EFFORTS TO REACH DEAL WITH CREDITORS
- GREEK POLITICAL PARTIES SEEK AGREEMENT TO COVER FINANCING NEEDS
- GREEK LEADERS SAYS GOAL IS TO SECURE COUNTRY'S FINANCING
- GREEK LEADERS: DEAL SHOULD TACKLE DEBT SUSTAINABILITY PROBLEM
- GREEK LEADERS: RESTORING LIQUIDITY IS TOP PRIORITY
Speaking of finding a "sustainable" solution (i.e. one that includes writedowns), the IMF, whose well-timed report on the necessity of Greek debt haircuts might well have played a vital role in cementing a victory for the "no" vote on Sunday, is now "ready to help" the Greeks. Here's Christine Lagarde:
"The IMF has taken note of yesterday's referendum held in Greece. We are monitoring the situation closely and stand ready to assist Greece if requested to do so."
The question of course, is this: what type of "assistance" is the IMF planning to provide?
The Fund's recommendation is for EU creditors to haircut their portion of Greek debt, something Germany is profoundly unwilling to consider. Case in point (from Reuters):
The German government signalled a tough line towards Greece on Monday, saying it saw no basis for new bailout negotiations and insisting it was up to Athens to move swiftly if it wanted to preserve its place in the euro zone.
"Greece is a member of the euro. It is up to Greece and its government to act so that this can remain the case," Steffen Seibert told a government news conference. "It depends now on what proposals the Greek government puts on the table."
Pressed on what concessions Berlin might be willing to make to Greek Prime Minister Alexis Tsipras, a finance ministry spokesman dismissed the idea of a debt restructuring sought by Athens and favoured by the International Monetary Fund (IMF).
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Forget the IMF. The Greeks are getting ready to go to the BRICS Summit for aid -
The Greek trip to the BRICS Summit begins to materializeGermany will gladly sell you all the Greek debt at face value.
Go for it, Froggie!
That's the kiss of death then from the fragrant Christine Lizarde.
Help? More like going to find every which way to castrate Greece, so that the rest of debt-laden Europe doesn't get any fancy ideas.
FUCK THE IMF! They won't do anything except give away free paper in return for blood later.
Stop the insanity and buy silver Greece!
IMF "Ready To Assist"
So...you put your cash in the toilet and the IMF will do all the hard work of pushing the flush lever?
the "IMF is READY TO ASSIST"
Translation: "The parasites are still interested in liquidating Greece"
NO SHIT!!
This was all preplanned...the IMF was always going to be the one offering 'hope' so that the markets did not implode.
The Greeks just thought they had problems.
CDS is a dish best served cold?
The bankers/financiers own all that garbage, they will make it all magically dissappear. All their risk/debt will be gone, yours will not.
Just liked we talked about earlier, (insert your favorite bankster) is going to sell you something you do not want. This is where the people's governments do their part since those politicians are owned by (insert your favorite bankster).
Tyler has probably explained this, but if default can just be ignored it's just more proof the entire world of finance is nothing but smoke, mirrors, fraud...
Yep, the IMF is maneuvering to be the master of the NWO and doesn't mind screwing anybody that gets in their way.....
As MASTER OF UNIVERSE there will be no 'New World Order' except 'New World Disorder', chaos, and contagion. Furthermore, if you don't like that very much you can take your complaints to God for all I give a rat's ass, motherfuckers. Moreover, I will rule with impunity like all the gangsterbanksters have been doing for centuries.
NOTE: The gangsterbanksters have no clothes and are butt naked now that Greece has defaulted. Legarde can suck cocks for a living now that she has demonstrated her incompetence as IMF Chair.
Sincerely, MASTER OF UNIVERSE
How about 1000 year Reich?
So, Which one are you? He-Man, or Skeletor? Maybe She-ra?
If that Hag LaGarde wanted to assist Greece she'd be funding the return to the Drachma.
She wants to "assist" them the way a heroin dealer assists a junkie customer.
"Don't quit man! Here's a hit for you until your disability check comes."
Greece will require a big bribe to leave, so we'll just have to wait and see how big it'll be.....
Well said Kaiser...this is like a classic abusive relationship...It's OK honey (Greece) I swear I will never beat you again, please take me back - things will be different this time...
There's more complexity to it than that. The IMF is controlled by the Americans who are actively waging economic warfare against the EU. The recent initiatives from the IMF had probably best been reframed in that perspective. That could quite possibly turn out to Greece's advantage.
yeah, that's the last thing Greece needs to hear now from those fucking scumbags:
"We're from the IMF...and we're here to help."
Read up about John Perkins, The Economic Hit Man
http://www.truth-out.org/news/item/26112-an-economic-hit-man-speaks-out-...
John Perkins is no stranger to making confessions. His well-known book, Confessions of an Economic Hit Man, revealed how international organizations such as the International Monetary Fund (IMF) and the World Bank, while publicly professing to "save" suffering countries and economies, instead pull a bait-and-switch on their governments: promising startling growth, gleaming new infrastructure projects and a future of economic prosperity - all of which would occur if those countries borrow huge loans from those organizations. Far from achieving runaway economic growth and success, however, these countries instead fall victim to a crippling and unsustainable debt burden.
Or said otherwise, in the immortal words of Admiral Ackbar: It's a trap!!!
https://www.youtube.com/watch?v=4F4qzPbcFiA
When you refer to John Perkins, be aware that his entire narrative is a limited hangout operation.
You should explain the basis of your asssertion. I'm not saying you're right or wrong, but you should state what interests Perkin's "limited hangout" protects.
My source is Catherine Austin Fitts.
http://fromthewilderness.com/free/ww3/010705_economic_hitmen.shtml
Excellent. Of course I'm aware of Perkin's book and its thesis though I've never read it. I was not aware of Fitt's pointed critique which is detailed and superb. I just hadn't thought about Perkins, whether consciously or not, as working as a limited hang out, and it most certainly does function as one (shows us a little leg to hide the bigger picture). Thanks.
Help from the IMF is a four-letter word.
Calling All Texans...It Is Time, Texas!...Operation Texas> www.OpTexas.org
What exactly is this operation supposed to achieve? Why is it limited to Texas? What will you do when it doesn't work?
After the NON event this morning....I now see this will not trigger anything. Everything will continue as it has as it will always until some other event. This seems to not be it. Oh yeah Silver is up 1 Cent again. Care to join me on my new Yacht that I am buying at the next shoot to the moon climb of a penny?
Yes, bricks are nice. Outside of that, wake me when just one government attaches "finance" to something fucking real. Making fraud of more then one million punishable by death. Nothing changes otherwise. I remain long black markets, sharecropping, and guillotines.
Then Greeks will default to BRICS and then to saudi ,so on and so forth till the Money keeps coming from others...!
Regime change in 3...2...1...
International Maid Fuckers ready to recapture 11 million debt slaves for their global debt slavery empire.
Maybe she means sticking her finger in Merkel's eye.
I remember when the German gov insisted on involving the IMF into the Greek case, and the Greek gov then was very much against it
Never trust the IMF (US).
I do indeed...
I remember it well.
In other words, the amiability of Legarde here indicates a very large haircut is going to be on the table, or else Greece can walk away, and the banks will get zip, and then it's their problem, and not Greece's.
So the IMF is apparently in a weakened position, due to the default.
Sorry, arrears.
Will Lagarde provide some breast milk?
Hell, no! They'll assist the way she likes it: up the rear end.
That would be like sucking acid out of a battery
http://pictogram2.com/p/p0867/i/m.png
Yup, that's Germany for you…
Interesting indeed.
WTF??
Uhm, didn't Greece default to the IMF ??
not enough, or so it seems
They always want MOAR;)
No. Defaults have been outlawed. They are in arrears.
Yes, they are in our rears, aren't they?
We're from the IMF and we're here to help....
... now bend over
Just in news: syriza takes three opposition parties with them to negotiate new loan agreement. My fears are coming true this all was just for show to give false hope for greece and syriza is a fake left party.
EDIT: sorry, three opposition parties supports syriza party negotiations still looks worrying that they will give in to austerity.
Those are some scary words right there, ranks right up there with "we're from the government and we're here to help."
If you go to an adoption agency .... avoid the Greek children !
Is someone 'Trolling' Monetas' account..? Or did he really just go full retard..?
Gee! She surely beats Wall street banksters for hypocrisy
Gee! She surely beats Wall street banksters for hypocrisy
IMF only believes in helping itself:
The IMF Itself Is a Criminal Organization
To understand this story, you have to reel back to the birth of the IMF. In 1944, the countries that were poised to win the Second World War gathered in a hotel in rural New Hampshire to divvy up the spoils. With a few honourable exceptions, like the great British economist John Maynard Keynes, the negotiators were determined to do one thing. They wanted to build a global financial system that ensured they received the lion's share of the planet's money and resources. They set up a series of institutions designed for that purpose – and so the IMF was delivered into the world.
The IMF’s official job sounds simple and attractive. It is supposedly there to ensure poor countries don’t fall into debt, and if they do, to lift them out with loans and economic expertise. It is presented as the poor world’s best friend and guardian. But beyond the rhetoric, the IMF was designed to be dominated by a handful of rich countries – and, more specifically, by their bankers and financial speculators. The IMF works in their interests, every step of the way.
http://www.realclearworld.com/2011/06/03/the_imf_itself_is_a_criminal_or...
Er.....doesn't that translate into US Taxpayer? Why are we involved with bailing out Greece, the Germans, the Euro zone banks etc... Isn't this their problem to solve?
I wonder how deep the ties between Goldman and the IMF truly are.
One ring to rule them all...
Germany will find itself utterly sidetracked unless it starts dealing in realities. The new reality is that the IMF has categorically stated that the Greek debt is unsustainable. Germany cannot pretend this is not no the new basis for dealing with the Greek debt.
Greece .... land of rugged collectivism !
Christine just needs them back inside the Euro internment camp. "How about a bowl of hot gruel and a nice shower guys? Pretty please?"
Beware the giant Oompa Loompa.
Christine is the American's tool. The Americans are also waging economic war on the EU. That's the appropriate perspective.
yes that is where she works out of...
It seems that Lagarde is sensing the criminal ponzi scheme is under threat. The core problem Greece faces is that due to the often murderous actions of a crimninal private cartel headed by the Rothschilds the right to create money was taken away from the public and brutally used to transfer the wealth of nations into the pockets of the cabal members. What needs to happen is for the cabal to be deposed and its ability to create money out of thin air and then charge interest on it ended. The best thing the IMF could do to help Greece is to shut its doors and own up to its crimes.
So let me get this straight....you were just shafted for 2 billion..and you are going to go back to the same people and lend them more....I get it...so thats how it works...
Yes, because in fact there is no real real work involved in printing that 2 billion. On the contrary, the greek people must work to pay that interest!!!
especially in USSA
Greeks beware... taking money from the IMF is simply switching from Satan to Lucifer.. to find out what happens when you get sucked into the IMF loan system . look no further than the Balkans.... http://www.balkaninsight.com/en/article/wikileaks-the-imf-s-fault-for-ba... Stratfor... “Do not forget, the IMF austerity measures imposed on Yugoslavia were in part to blame for the start of the war there. We need to be aware of any economically motivated social discontent,” document states. The late Jude Wanninski on the IMF .. WANNISKI: I began calling the IMF an "Evil Empire" when Reagan put the label on the Soviet Union. With the collapse of communism, the IMF has been the most destructive force on the planet. It floats above all the governments, disconnected to any voters anywhere, the Death Star run by Darth Vader and his pals. "Darth," by the way, means "Dearth," or scarcity. "Vader" is "Father." So we have, Father of Scarcity. This is how the IMF manages the world, forcing those poor countries under its thumb to tighten their belts in order to pay off the Big Banks in New York and London. Would I blow up the IMF? No, I would put the dollar back on a gold standard, and the IMF would be able to go back to doing what it was designed to do in 1944, i.e., manage the Bretton Woods gold standard -- with better personnel, I would hope. [From an nterview in 2\1999.
US Tax Donkeys, FORWARD!
We have a winner!
And reality sinks in....
The greeks will be out of money this week. No ATM's no pensions, no welfare checks.
They do not have the balls to go it alone.
They are already on their knees begging for a bailout.
The idea that they can demand anything from Germany is a joke. Their entire economy is about to implode, and not affect Germany at all.
In fact it will demonstrate to Spain, Italy and Portugal just how tough it will be to leave the euro.
and you think they have bargaining power? Seriously? AHAHAHAHAHAHAHAHAHA
"They do not have the balls to go it alone."
That's what was said before yesterday's election, that the Greek people would never have the balls to vote no. Yet they did.
"you think they have bargaining power? Seriously? AHAHAHAHAHAHAHAHAHA"
Owe your banker ten thousand dollars, and you have a problem; owe your banker a billion dollars, and THEY have a problem. What makes you think that the troika has any bargainaing power at this point? What exactly do you suggest that the banksters threaten to take away from these people who have nothing left to lose?
Your mirth is most inappropriate considering the sheer enormity of the human misery being experienced in Greece, especially when considering that the vast majority of those suffering are people who have no responsibility or blame for this disaster. This isn't about some deadbeats not paying their bills, this is about multinational financial interests using the monetary and banking systems as a mechanism to enslave the entire planet and turn it into a hellish global economic rape camp. Every time you heap abuse on their victims, you help those despicable vampires suck the human race dry; is that really what you want to do?
What utter bullshit.
yes people are about to start suffering, as the end result of voting for socialists who promise them something for nothing and destroy any interests that multinationals might have of actually investing and employing people there.
My mirth as not directed at these poor saps who actually believe the kind of leftist bile that spews out of your pores, but for those like you who are about to get a dose of reality.
The reality is, you can't continue to spend other people's money. There's a limit. Greece has reached it. Get over it.
Aren't most other countries on the verge of being in Greece's situation?
If not now, then in the near future?
Won't the next ugliest girl at the dance be next?
I bought some cheap SDS calls (already losing on them) based on the idea that Germany will let Greece suffer a bit more before agreeing to a deal. I'll only have a short window to sell them at a profit over the next few days.
Once the Greeks have gone a few days without food they'll be a little more reasonable, and might even agree to increase the age that civil servants retire at to 65 from 56.
In return there will be some debt relief and some new funds injected.
It's all so predictable.
Sorry guys, the world isn't going to end this week.
I dont see anything on russia or china this morning? I thought they were going to help greece?
In the Norwegian language version of Sputnik News, the state-owned Russian news agency, there's an article (and I cannot find any confirmation on its content in English-language sources) which cites China's deputy foreign minister Chen Gopin who stated on Monday that China is in active consultations with both the EU and Greece.
You can read a Google Translate version of that article here,
China has a huge stake in the outcome of the Greek crisis. Also Tsipras is expected to
Tsipras was also in discussions with Putin on Monday.
What the USMF IMF are actually saying is "Don't worry about your debts to the EU, ECB, the Eurosheep will pay for that from their taxes...just pay us and you'll be fine."
...and the Eurosheep will say " Baa, baa, Putin, baa, baa Assad, baa, I'm scared to leave my house coz one of them brown immigrants might get me, baa."
After that everything will be fine.
Damn my shaky double postin' fingers..Barman, another Courvoisier.
I've also covered my AUD and CAD shorts, maybe early, but hard to go wrong taking a profit.
If we get another leg down in those currencies I might, maybe, go long, although I hate shorting the dollar in general.
My long USD short commodities, PMs and commodity currencies got me all kinds of hate here on ZH over the past few years (I got banned once for riling up the fanbois too much, some fight club huh, no dissent allowed, lol) but looks like I will be gloating for some time to come.
Until I get banned again at least.
If it all works out like you think it will, then good for you.
I'm doing something else.
If we all thought the same way it'd be awfully hard to make any money trading. Good luck!
"The Fund's recommendation is for EU creditors to haircut their portion of Greek debt, something Germany is profoundly unwilling to consider."
.
Then, let the CREDITOR NATIONS' CITIZENS "vote" whether or not they want to do this.
"It's only faaaaaaaaair!!!"
Except the nations are the people, and the creditors are radically separate from the people. They are the central banks and the interests of the creditors and the people of the countries where those banks are located are diametrically divergant.
But why are the IMF holding nail guns?
As I've said before NEVER, EVER PAY BACK YOUR DEBT. Sovereign, corporate, student loans, even personal debt, it's someone else's problem. The Central Bank will just print the money. In the new norm, banks can never lose unless they want to consolidate or hate the guy running said bank/banks (see Lehman and Bear Stearns). What a complete clown show the "free market" has become.
I like your spirit, but I like having a roof over my head, a car, and a quiet cellphone even more.
oligarchs, kleptocrats, just toying / playing with the stupid sheeple. Most of the criminals need to be hung!
Yes,but....Either Germany (DB) pays out on the Credit Default Swaps for Greece default event,or....they welsh on the bet,and buying CDS as a way of hedging risk becomes pointless,and sovereign bond yields start spiking,reflecting the TRUE risk of near term economic collapse.There could be a lot of CDS traders looking for work soon. May Blythe Masters burn in hell forever.....
Please Mr Greek please be out debt slave. Pretty please
Germany will bail them out and foot the bill. Default means PIGS will implode and Germany France will be left with a economic nuclear event.
If the Euro project tanks,those Gold shorts that JP Morgan are holding will be hotter than the inside of a Fukushima reactor building.
The poor US taxpayer gets to bend over once again.Wasn't JPM caught out in the silver manipulation of a few years back? Hmmm....
What a circle jerk...and no one wants to finish the job.
Never apologize for a double post .... it's weak .... and you still wasted even more space and time !
Virtual space and virtual time can not be wasted.
Time spent fiddling on the internet is very real.
I disagree.
I get on the internet and time disappears.
just had a bad brain flash Christine got the casting couch position from DSK
Watch out men, it could be a trap!
There are only two kinds of IMF "help".
Debt relief or a loan (in Greeces case charity).
The IMF and Germany are playing good cop, bad cop. There is no such thing as Germany. It's owned by the USA, same as the IMF.
Greece needs to tell the orange lady with the adams apple to put a strap-on in place and go pound sand.
"The IMF has taken note of yesterday's referendum held in Greece. We are monitoring the situation closely and stand ready to assist Greece if requested to do so."
Hasn't the IMF assisted Greece enough already?
They won't take 'No' for an answer.
Like Joliet Jake: "Wrong glass sir".
So, the IMF is splitting ranks to be the White Knight in all this? Bullishit.
What R they gonna do, pass the hat to ROW to bail out the EU? All just a step closer to New World Order Bank and world currency by trying to gin up credibility for this creature of the UN.
Lagarde:
1) Puppet (& thus obedient)
2) Sociopath
7) Female
"Ready To Assist."
Yes, to ensure that the prevailing neo-liberal narrative wins the day.
You don't makes deals with bullies.
You kick the shit out of them and leave them crying.
Oh really, jewess why so sudden? Could it be... hmm... lets see....... usury?
Greece Referendum: Syriza Didn’t Get The Message @ http://99getsmart.com/greece-referendum-syriza-didnt-get-the-message/
Ready to assist...is that a joke..your assistance so far has been enough...
The best strategy is to borrow huge money from kaballah backed IMF & World Bank
and refuse to pay.