Greece Accepts IMF Role in Third Bailout

Tsakalotos_DijsselbloemAs expected, Greece has given in to German demands that the International Monetary Fund (IMF) continues to have a role in the third bailout agreement, signed by the SYRIZA-led government in August 2015.

The announcement was made by Eurogroup President Jeroen Dijsselbloem and was later confirmed by Greek Finance Minister Euclid Tsakalotos.

So there goes another surrender on the part of the SYRIZA-led government to the diktats of the Troika.

But such developments should no longer surprise anyone – and, in fact, no one should expect anything different. The sad truth of the current situation in Greece is that the country has completely lost its financial sovereignty, and democracy has been thrown in the rubbish bin. Prime Minister Alexis Tsipras has less power than a middle level official in any of Germany’s sixteen federal states.