The new Greek government program | 171 comments (171 topical, editorial, 0 hidden)

I found he myth of "good" IMF perplexing anyway. They also take much higher interest rates.

by IM on Thu Feb 26th, 2015 at 06:41:38 AM EST
[ Parent ]

I think the reason is that its research division produces papers showing that the IMF's policies can not achieve its stated goals. That this had no influence on the policies is something that is easily missed.

by generic on Thu Feb 26th, 2015 at 06:45:51 AM EST
[ Parent ]

Re: Who did what? (4.00 / 4)

Another reason is that the EU (ECB, Council, Commission) public discussion focused on debt service and budget cuts rather than the substance of the "reforms" enforced at gunpoint, and not just the IMF research division but the IMF top leadership was more flexible on that. Then again, Poul Thomsen and his fellow IMF bureaucrats would never have been able to exert the level of influence they have without the perpetuation of the depression by the austerians, so making the IMF worse than the others is wrong too.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Thu Feb 26th, 2015 at 07:03:52 AM EST
[ Parent ]

Re: Who did what? (4.00 / 4)

Another reason is that the EU (ECB, Council, Commission) public discussion focused on debt service and budget cuts rather than the substance of the "reforms" enforced at gunpoint, and not just the IMF research division but the IMF top leadership was more flexible on that.

This may be the reason why IMF was left out. Finance ministers fear debt cuts because they don't want to sell them to voters while compromizing on "reforms" won't cost them anything. Not having IMF in let them choose whether to compromize on debt or on reforms.

by Jute on Thu Feb 26th, 2015 at 11:43:41 AM EST
[ Parent ]

The new Greek government program | 171 comments (171 topical, 0 editorial, 0 hidden)

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