Tuesday, July 12, 2011

IMF chief opines on Italy

Mme Christine Lagarde said the turmoil that had raised fears of an Italian financial meltdown was "essentially market driven."

"Some of the Italian numbers are excellent," she told reporters in Washington, read here!

It sounds to this reader as if the new IMF chief is anticipating an early visit to Milan to purchase some fashion items. Who know, maybe soon those markets may drive Italy clean out of the Euro Zone, returning designer handbags etc to denominations of thousands of lira, we all remember as being so easily affordable!

No explanation was given in this article nor in the reported news conference, as to why the 3 billion was just released from the IMF to Greece, when clearly that country's future financing is high up in the air, if indeed anywhere at all, this situation now not sceduled to begin to be  resolved by the EU until talks starting in September at the earliest!

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