Friday, May 20, 2011

The IMF and the ECB, Strauss-Kahn and Trichet - John Lipsky owes the world some answers!

The EU/IMF is applying huge pressure on Greece to begin its privatisation programme, read Reuters, from here.

Open Europe's daily press briefing email yesterday included the following statement:

The FT reports that, earlier this month, Jean-Claude Trichet, ECB President, walked out of a meeting with Jean-Claude Juncker, Prime Minister of Luxembourg, after Juncker brought up the possibility of a ‘soft restructuring’ of Greek debt. Jürgen Stark, another ECB executive board member, warned that following a restructuring, Greek bonds would no longer be eligible for use as collateral in exchange for lending from the ECB – without which the Greek banks would most likely fail. FAZ argues that the ECB is acting in its own self interest as it would face huge losses from a restructuring given its large holdings of Greek debt.

Press reports following the arrest of DSK over the weekend included a statement that the IMF Chief, always travelled with two Blackberry comminication devices, one of which was encrypted.

John Lipsky owes it to the world, his shareholders, as new acting Head of the IMF, and to the citizens of the EU, to reveal exactly what has been going on between the IMF and the EU over the past year.

How will Greece ever recover, if its citizens are first taxed to death, while concurrently its state assets are all disposed of to foreigners?

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