"Going to the IMF" brings with it a great deal of stigma. European governments are unwilling to take such a step as it could well be their last. Greece and the other weak eurozone countries need euro loans, not any other currency. If the IMF lent euros, that would be distinctly awkward - as this is what the European Central Bank (ECB) is supposed to control.
Greece and the other weak eurozone countries need euro loans, not any other currency. If the IMF lent euros, that would be distinctly awkward - as this is what the European Central Bank (ECB) is supposed to control.
Or, to give the cynical view -- since the IMF operates as a loan shark to 'third world' countries, perhaps they feel the odds of Greece signing over its public infrastructure is low. Maybe we can eventually make language a complete impediment to understanding. -Hobbes
Iceland imploded because of its foreign currency exposure - that is not going to happen to the Eurozone countries in any event. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
