Self-hate
Steve Bates featured Paul Krugman’s analysis of the EU’s demands for Greece, but I was more amazed by this: the IMF attacks EU over bailout.
The International Monetary Fund [IMF] is one of Greece’s creditors, and Greece has already missed a payment to the IMF, so they have ‘a dog in this fight’. They are part of the ‘troika’ that is supposed to be formulating the resolution to Greece’s economic problems. The prime minister of Greece is going to have a hell of a time trying to get parliament to go along with the EU demands when the IMF believes the demands will make things worse.
The economics columnists at the CBC and the ABC are saying much the same as Krugman and the IMF – the EU demands are pointless, as they won’t work and were designed as punishment, not a solution.
