Wednesday, March 4, 2015

Greece Wronged ? Europe's 'Schuld'?

IMF Director Paulo Nogueira Batista, Jr.  stated in a video chat that Greece bailout was not for Greece but to help German and French banks (retrieve their debt). This had put an undue burden on the Greek economy. He implied that Greece was being let down by the troika and that it was to expect the current Greeks to hold on to all painful commitments of the previous Government . He suggested that Greek should talk to IMF directly, the hint being that the Fund would be more flexible.

 Note In German Schuld means guilt

Without any risk or responsibility

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