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IMF softens its stance on Greece, as does Germany

Thu 16 Jun 2011
IMF softens its stance on Greece, as does Germany LONDON - According to the Financial Times, the International Monetary Fund has indicated that it is willing to disburse the next tranche of Greece's current rescue package so long as the EU makes up for any shortfall.

So I've been reading that the protests in Greece and gov't talks have come as a shock to the EU heavyweights. They are now reacting in different ways to events on the ground.

This reinforces the sense that they are only in reactionary mode. They have no one on the ground apparently who can tell them how the austerity program is going. I always assumed that they would just as well accept a Greek default brought on by popular demand, and that's why the measures were so stringent (not to mention the ethnic insults). But now it seems that, no, they just don't know what the fuck they are doing.

by Upstate NY on Thu Jun 16th, 2011 at 09:06:15 AM EST

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