Wikileaks Reveals IMF Plan To "Cause A Credit Event In Greece And Destabilize Europe"

Tyler Durden's picture

One of the recurring concerns involving Europe's seemingly perpetual economic, financial and social crises, is that these have been largely predetermined, "scripted" and deliberate acts.

This is something the former head of the Bank of England admitted one month ago when Mervyn King said that Europe's economic depression "is the result of "deliberate" policy choices made by EU elites.  It is also what AIG Banque strategist Bernard Connolly said back in 2008 when laying out "What Europe Wants"

To use global issues as excuses to extend its power:

  • environmental issues: increase control over member countries; advance idea of global governance
  • terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
  • global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
  • EMU: create a crisis to force introduction of “European economic government”

This morning we got another confirmation of how supernational organizations "plan" European crises in advance to further their goals, when Wikileaks published the transcript of a teleconference that took place on March 19, 2016 between the top two IMF officials in charge of managing the Greek debt crisis - Poul Thomsen, the head of the IMF's European Department, and Delia Velkouleskou, the IMF Mission Chief for Greece.

In the transcript, the IMF staffers are caught on tape planning to tell Germany the organization would abandon the troika if the IMF and the commission fail to reach an agreement on Greek debt relief. 

More to the point, the IMF officials say that a threat of an imminent financial catastrophe as the Guardian puts it, is needed to force other players into accepting its measures such as cutting Greek pensions and working conditions, or as Bloomberg puts it, "considering a plan to cause a credit event in Greece and destabilize Europe."

According to the leaked conversation, the IMF - which has been pushing for a debt haircut for Greece ever since last August's 3rd Greek bailout - believes a credit event as only thing that could trigger a Greek deal; the "event" is hinted as taking place some time around the June 23 Brexit referendum.

As noted by Bloomberg, the leak shows officials linking Greek issue with U.K. referendum risking general political destabilization in Europe.

The leaked transcript reveals how the IMF plans to use Greece as a pawn in its ongoing negotiation with Germany's chancelleor in order to achieve the desired Greek debt reduction which Germany has been pointedly against: in the leak we learn about the intention of IMF to threaten German Chancellor Angela Merkel to force her to accept the IMF's demands at a critical point.

From the transcript:

THOMSEN: Well, I don't know. But this is... I think about it differently. What is going to bring it all to a decision point? In the past there has been only one time when the decision has been made and then that was when they were about to run out of money seriously and to default. Right?




THOMSEN: And possibly this is what is going to happen again. In that case, it drags on until July, and clearly the Europeans are not going to have any discussions for a month before the Brexits and so, at some stage they will want to take a break and then they want to  start again after the European referendum.


VELKOULESKOU: That's right.


THOMSEN: That is one possibility. Another possibility is one that I thought would have happened already and I am surprised that it has not happened, is that, because of the refugee situation, they take a decision... that they want to come to a conclusion. Ok? And the Germans raise the issue of the management... and basically we at that time say "Look, you Mrs. Merkel you face a question, you have to think about what is more costly: to go ahead without the IMF, would the Bundestag say 'The IMF is not on board'? or to pick the debt relief that we think that Greece needs in order to keep us on board?" Right? That is really the issue.


* * *


VELKOULESKOU: I agree that we need an event, but I don't know what that will be. But I think Dijsselbloem is trying not to generate an event, but to jump start this discussion somehow on debt, that essentially is about us being on board or not at the end of the day.


THOMSEN: Yeah, but you know, that discussion of the measures and the discussion of the debt can go on forever, until some high up.. until they hit the July payment or until the leaders decide that we need to come to an agreement. But there is nothing in there that otherwise is going to force a compromise. Right? It is going to go on forever.

The IMF is also shown as continuing to pull the strings of the Greek government which has so far refused to compromise on any major reforms, as has been the case since the first bailout.

As the Guardian notes, Greek finance minister Euclid Tsakalotos has accused the IMF of imposing draconian measures, including on pension reform. The transcript quotes Velculescu as saying: “What is interesting though is that [Greece] did give in … they did give a little bit on both the income tax reform and on the … both on the tax credit and the supplementary pensions”. Thomsen’s view was that the Greeks “are not even getting close [to coming] around to accept our views”. Velculescu argued that “if [the Greek government] get pressured enough, they would … But they don’t have any incentive and they know that the commission is willing to compromise, so that is the problem.”

Below is Paul Mason's summary of what is shaping up as the next political scandal.

The International Monetary Fund has been caught, red handed, plotting to stage a “credit event” that forces Greece to the edge of bankruptcy, using the pretext of the Brexit referendum.


No, this is not the plot of the next Bond movie. It is the transcript of a teleconference between the IMF’s chief negotiator, Poul Thomsen and Delia Velculescu, head of the IMF mission to Greece. 


Released by Wikileaks, the discussion took place in Athens just before the IMF walked out of talks aimed at giving Greece the green light for the next stage of its bailout.


The situation is: the IMF does not believe the numbers being used by both Greece and Europe to do the next stage of the deal. It does not want to take part in the bailout. Meanwhile the EU cannot do the deal without the IMF because the German parliament won’t allow it.


* * *


Let me decode. An “event” is a financial crisis bringing Greece close to default. Just like last year, when the banks closed, millions of people faced economic and psychological catastrophe.


Only this time, the IMF wants to inflict that catastrophe on a nation holding tens of thousands of refugees and tasked with one of the most complex and legally dubious international border policing missions in modern history.


The Greek government is furious: “we are not going to let the IMF play with fire,” a source told me.


But the issue is out of Greek hands. In the end, as Thomsen hints in the transcript, only the European Commission and above all the German government can decide to honour the terms of the deal it did to bail Greece out last July.


The transcript, though received with fury and incredulity in Greece, will drop like a bombshell into the Commission and the ECB. It is they who are holding E300bn+ of Greek debt. It is the whole of Europe, in other words, that the IMF is conspiring to hit with the shock doctrine.

The Greeks are understandably angry and confused; As Bloomberg reported earlier, "Greece wants to know whether WikiLeaks report regarding IMF anticipating a Greek default at about the time of the U.K. June 23 referendum on its EU membership is the fund’s official position" government spokeswoman Olga Gerovasili says Saturday in e-mailed statement.  For its part, an IMF spokesman in e-mail Saturday said it doesn’t "comment on leaks or supposed reports of internal discussions."

Two side observations:

1. has a "Snowden" leaker now emerged at the IMF; if so we can expect many more such bombshell accounts in the coming weeks; or perhaps the reason for the leak is less nuanced: a bugged hotel.

2. it may be another turbulent summer in Europe.


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kliguy38's picture

According to the leaked conversation, the IMF - which has been pushing for a debt haircut for Greece ever since last August's 3rd bailout - believes a credit event as only thing that could trigger a Greek deal; the "event" is expected to take place some time around the June 23 Brexit referendum.


Surely this can't be true......surely .....that would mean they are lying and might very well be evil people.......

RAT005's picture

Any comments from Greek ZH'ers?

FreeShitter's picture
Hang the motherfuckers.
Heavy's picture

Hillary's here to help!...the bankers...

maskone909's picture

We must drive europe into a depression. That way you dumbfucks will love the idea of invading syria.
Your pals- the banks and politickers

KnuckleDragger-X's picture

What they want and what they will get , are very different things........

Government needs you to pay taxes's picture

Who will be the first to act on the knowledge that the only way to fix the mess is to hang some corrupt banksters and their political cronies?

Paveway IV's picture

Team Chaos - Destabilizing 24x7 so you don't have to. 

knukles's picture

Economic Central Bank False Flags. 
Not Just Incompetence, but Satanic Evil

Stakes need be driven through hearts

wolfnipplechips's picture

I'm not sure we need wiki leaks to break this news. Didn't we already know this was the game plan over a year ago or more? Nothing new here for the Satanic sycophants.

Nutsack's picture


RafterManFMJ's picture

Say, has this story been the lead on CNN? FOX? If not why not?


Whoa Dammit's picture

Europe is already destabilized because of the Rapeugee Invasion. A credit event will just speed up the inevitable. 

P>S> Why does WikiLeaks never leak anything truly shocking or useful?

Surviver22's picture
Surviver22 (not verified) Whoa Dammit Apr 2, 2016 11:24 AM

Mainstream media isn't saying a word about it!

What are they really trying to cover up?

WayBehind's picture

Seems like the main reason is to scare the British voters ... to keep UK in the EU

The Saint's picture
The Saint (not verified) WayBehind Apr 2, 2016 12:22 PM

It doesn't matter now anyway.  It's too late.  Europe is for all intents and purposes lost to the Muslims.  European Christians will be immigrating to the U.S. to get out of there and it will be a few countries like the U.S. against the Muslims in world war iii.

RockySpears's picture

Ha ha  ha ahahaaaaaaaaaa!


We want to travel to a country where the first thing they do is fingerprint you, at the goddammed airport.

We have it bad this side of the pond, but swapping our Stazi for you Gestapo is NOT on the cards.



Casanova's picture
Casanova (not verified) Four chan Apr 2, 2016 2:48 PM

Conquered the West =>

thesonandheir's picture

IMF is right IMO to do this, it needs to be brought to a head to get Germany to issue a haircut to the Greeks otherwise they are fucked and fucked for generations. Lagarde isn't daft, she knows the score plus she is French as well so could envisage the same happening to her home country in a few years if this doesn't get sorted out.


Shameful behavior by the Germans as they have had unimaginable benefits from the single currency - they should be able to compensate the southern euro nations for the pain they are going through from which Germany plunders.

bigkahuna's picture

I hope Germany goes ahead and starts whipping some ass.

monad's picture

me too.

I hate Hollywood. They plagiarise literature like the gang raping mongol hordes they are.

Fuck you, DMCA leeches!

1. You can't patent anything that is already in use, anywhere. Such as... DNA

2. Derivatives are infringements. Such as The Matrix is obviously totally derivative of The Three Stigmata of Palmer Eldritch by Philip K Dick.

FreeMoney's picture

Yeah the bankser are all evil mother fuckers, but has Greece balanced its budget yet?  Do they have an actual primary surplus?  If not, and the answer is not, then Greek politicians are equally evil mother fuckers extending the pain to the population. 

jeff montanye's picture

they are not equally evil.  they are weak, venal and corrupt but the banksters seduced and coerced them into the euro.  the banksters planned and profited from the control fraud and continue to live very well, unlike the greek pols many of whom were voted out.

it's kind of like trump and hillary.  he's rude and belligerent, takes on too much debt and has bankrupted companies.  she's murdered thousands of people.

logicalman's picture

Balance the budget?

Like the good old USA, UK, Japan ........etc. doees?

You're kidding, right?


McMolotov's picture

The "Rapeugee Invasion" is likely every bit as engineered as this new "event" the IMF wants to orchestrate. When it comes to geopolitical machinations, it helps to ask oneself, "WWSD?" As in, what would sociopaths do?

Order out of chaos.

OldPhart's picture

I think they're linked.  Why else would they suddenly allow an invasion of Europe?

It's spring, and these rampaging mobs of thugs and rapists are going to start feeling their oats.  I could see some mob event occurring in June that destroys a city or kills thousands of Europeons.

Four chan's picture

muslims gonna muslim #brussles 

Frankie Carbone's picture

Please don't talk to him. He's a complete piece of shit and it just encourages him. 

XuscitizenSweden's picture

Remember Voltaire;

"To learn who rules over you, simply find out who you are not allowed to criticize. "

The too-big-to jail crowd of banksters is only 2nd or 3rd tier.


Actually it's *The ROTHSCHILD BANKING CARTEL* which is behind all of this shit.

An Excellent Introduction from yesterday's SGT-Report:

*The Rothschild Conspiracy Explained *

"During the 19th century, the Rothschild family is believed by some to have possessed the largest private fortune in the world, as well as the largest private fortune in modern world history.  Today, because of their total control over global central banking, Rothschild wealth is believed to exceed $100 Trillion, with some estimates as high as $500 Trillion.  So, how did the Rothschild family become the wealthiest family on Earth? What do North Korea, Iran and Cuba have in common? What objectives did 9/11 really try to achieve? This 4-minute video and the full historical documentary about the Rothschilds provide many answers to these troubling questions. "


*The Rothschild Conspiracy Explained in 4 Minutes*




Nutsack's picture


swmnguy's picture

All-caps hides the Hasbara false-flag reverse-concern-trolling really well.

/sarc off

Nutsack's picture
Nutsack (not verified) swmnguy Apr 2, 2016 12:23 PM

Blow me....then why didn't you do that faggot?

swmnguy's picture

No thanks, but do stick around.  You're a key element in the rather interesting thought-experiment that is ZH.

Frankie Carbone's picture

He's just a lab rat in our psychology lab. 

KnuckleDragger-X's picture

Kill it! Kill it with fire!!!

TBT or not TBT's picture

If together and declared that objects should obey the laws of physics, and therefore permit...stuff to happen, we would have ZH threads screaming murder and carrying on about zioagendas.   'Europe' is unstable, and something sometime will send the boulders crashing down hill.  

DownWithYogaPants's picture

But hey if Europe is poor and can not pay welfare to the rag head might just save their culture.  

Better to be poor and with western culture than "banker rich" ( aka Niggerian Rich ) with Arabs all around.

TBT or not TBT's picture

Huh?   Europeans are weak because of control freaky welfare state pathologies, regardless of who comes to sponge off the shrinking pool of productive human and physical capital.   That it's islam infected others surging in should be no surprise.  They're plundering taker types, not makers, and europeans have set up the type of incentives that make them risk it all to get in on the looting.   Meanwhile very large percentages of French people would like to leave.  The tax-farmed productive.  

KnuckleDragger-X's picture

One of those little things that people overlook is the fact the EU doesn't grow enough food to feed itself, and the list grows from there......

RockySpears's picture

Oh, and America does?


That is, 1/5th of your consumption is imported.  This really is not about US/Europe,  we are all in deep doo doo.


Reset needed Globally to correct the imbalane.



Adahy's picture

'America' may not, but I do; and you all should too.

Get started now.  There is a steep learning curve.

Calmyourself's picture

Very steep learning curve, its hard and then you need to worry about keeping it...

Arnold's picture

Rutabagas and turnips make a good first crop......

Frankie Carbone's picture

Yep. Not as easy as magical thinking would lead people to "believe". Wait until they meet the hostile, resiliant, and prolific powdery mildew and its friends and their lives depend on that crop. 

ebear's picture

"That is, 1/5th of your consumption is imported."

Not a problem when you consider Americans eat twice as much as they need to survive. If 1/5th of India's food supply disappeared you'd have mass starvation. If 1/5th of America's food supply disappeared, all that would happen is people would stop gaining weight.

skepsis101's picture

But, but, . . .Russia and its farms are right next door!  Oh, forgot.  We're supposed to sanction those M-f---ers, cuz Uncle across the ocean sez they're dangereux putinites!  And phony Christian monogoians, to boot.  Europeans would rather starve than go RED.  But wait, you don't need the Russkis' stinkin cabbages or potatoes, and sure as hell don't need their natural gas, neither.  The damn muzzies are so numerous and well distributed across the continent now they can just make a chinese fire drill from Qatar to Berlin and hand 5 gallon barrel over barrel. That'll keep old man winter away, the muzzies all employed and in great physical shape, while assuring all the beautiful blondes are popping out their annual demographic quota, labor will become cheap and plentiful again, with the added bonus that will fill up the Saudis new gift to Europe of 5,000 new Mosques.  

See how easy policy making is.  If you just think for a minute all the pieces fit together fine.  Damn Brusselites are smart.

Glorious Europe, Renaissance, Enlightenment, the Rights of Man, all that Art, Literature, Science, Music, Philosophy were such petty and wasteful distractions.

cv2017's picture

Europeans are weak, just like americans and anyone on earth, because they abandonned God.