"“It’s sometimes better to have a bit more time,” Lagarde said today at a press conference in Tokyo marking the start of the fund’s annual meeting. “This is what we advocated for Portugal, this is what we advocated for Spain and this is what we are advocating for Greece.’
Comments by IMF officials over the past weeks suggest that the fund will seek commitments from European policy makers to help Greece in ways ranging from writing off debt to providing additional loans before agreeing to disburse its share of the bailout agreed in March. The IMF has indicated that it won’t lend more money to Greece."
As I pointed out yesterday, the IMF is signaling loudly that the bankster class is willing to help the politicians play kick the can again (and avoid a near-term economic melt-down) if the politicians can get their acts together and keep their domestic populations subject to the will of the greater E.U. coalition. The fate of the E.U. experiment hangs in the balance.
We will keep watching closely... - Wes