Thursday, March 25, 2010

Greece and the IMF

Article I of the founding principles of the IMF Paragraph V states the following: To give confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity. Were the Greek people made aware when joining the Euro currency that the EU Commission would seek to remove the protection provided by this provision from the Greek Nation and its people? Are the other troubled members of the Euro currency zone not concerned by the fact that this protection offered to 186 countries in the world is somehow deemed to be non-compatible with membership of the EU's dodgy currency? The statements made by the Heads of Government of the Eurozone members and the EU Commission President after today's crisis meeting of the non-democratic Council of Europe should be most entertaining! Read what I earlier posted on Greece and the IMF beginning last February starting here.

Labels:

0 Comments:

Post a Comment

<< Home