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Bloomberg: IMF Is Right to Want Greek Debt Relief

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The editorial board of Bloomberg news agency co-signed an opinion article, titled “The IMF Is Right About Greece.” The article justifies the International Monetary Fund’s indirect threat of leaving negotiations if debt relief is not given to Greece.
“The IMF’s implicit threat to withhold its support and walk away from the talks is justified,” reports Bloomberg. “Essentially, the euro zone ministers and Greece’s government have been feeling their way toward an agreement that neither side thinks will work. The spirit of these talks recalls the old joke about the Soviet Union: ‘We pretend to work and they pretend to pay us.'”
The article states that the deal just isn’t credible with the fiscal target set too high. If implemented, “which it won’t be,” the plan could hurt Greece. It refers, scornfully, to the Greek program as a “pretense of a deal.” The op ed makes a case in favor of debt relief by stating that the Greeks have already paid a high price in collapsing living standards and through the imposition of targets that aren’t sustainable.

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