Europe: We've Done All We Can, Now It's America's Turn To Help
Cue the fireworks in 3...2...1...
- FRIEDEN EUROPEANS CAN'T DO MUCH FOR GREECE BEYOND AGREEMENT - BBG
- FRIEDEN: GREECE NEEDS STRUCTURAL REFORMS, SHORT-TERM FINANCING - BBG
- FRIEDEN: GREECE HAS HISTORY OF PROBLEMS IMPLEMENTING DECISIONS - BBG
- FRIEDEN: GREECE SHOULDN'T BE IN EURO-ZONE IF CONDITIONS NOT MET - BBG
And... drumroll please:
- FRIEDEN SAYS HE WISHES U.S. MORE INVOLVED IN STRENGTHENING IMF - BBG
Translation: Hey America, we've done all we can, now it's your turn to sustain the Ponzi. Because if we go, you go.
The upside: think of just how much faster the latest and gratest $16.4 trillion debt target will be breached if America simply issues Greek bonds with a US guarantee. Like it did in that other foreign policy success story - Egypt.