Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Haim R. Branisteanu who wrote (73032)	3/30/2010 9:41:28 AM
From: Dennis Roth	Read Replies (1) of 74559

Europe has left Greece hanging in the wind telegraph.co.uk Excerpts: The joint EU-IMF facility can be activated only ultima ratio – as a last resort – once Greece is shut out of debt markets and not until eurozone stability is threatened. “So they want Greece to reach the point of bankruptcy before they help us?” asked Greek opposition leader Antonis Samaras Greece is worse off than before. It cannot decide when to invoke the mechanism. It has given up its right as an IMF member to go to the fund when it wants, leaving it prisoner to Europe's deflation dictates. "The IMF would be a lot softer than Europe," said Ken Rogoff, the fund's former chief economist.

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