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Greece Demands IMF Explain `Disaster'Remarks In Explosive Leak    HuPo

A letter from Greek prime minister Alexis Tsipras questions whether the country "can trust" the lender.

The leaked remarks of International Monetary Fund officials suggesting the lender may threaten to pull out of Greece's bailout are eliciting anger in Athens and could jeopardize debt negotiations. The Huffington Post exclusively obtained a private letter on Saturday from Greek prime minister Alexis Tsipras to IMF managing director Christine Lagarde, demanding answers for some of the controversial comments in a March 19 teleconference between Poul Thomsen, IMF European director, Delia Velculescu, IMF chief of mission in Greece and IMF official Iva Petrova.

Wikileaks released a transcript of the phone conversation earlier on Saturday in which Thomsen and Velculescu indicate that only a new crisis would prompt both Greece and Germany to fulfill their obligations under the bailout agreement. Velculescu raises concerns that while more time may be needed to push the parties toward an agreement, postponing a meeting could be a "disaster."

Tsipras wants to know whether Thomsen and Velculescu's apparent belief that the IMF must rely on another crisis-inducing "credit event" to force Greece's hand "reflects the official IMF view." If so, Tsipras challenges the IMF to defend the policy, given accepted norms of negotiation.



As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Apr 3rd, 2016 at 12:59:48 AM EST
Press Release: IMF Managing Director Christine Lagarde Letter to Greece Prime Minister Alexis Tsipras
Of course, any speculation that IMF staff would consider using a credit event as a negotiating tactic is simply nonsense.
by Katrin on Sun Apr 3rd, 2016 at 04:57:41 PM EST
[ Parent ]
Sounds like my children re where have all the cookies gone.
by Katrin on Sun Apr 3rd, 2016 at 05:09:28 PM EST
[ Parent ]
I am sure that your children operate on a far higher level of moral development than does the IMF, the ECB or the European Council - especially the Council.


As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Apr 3rd, 2016 at 10:55:07 PM EST
[ Parent ]
She does not even try to make it sound credible. What do you mean,  cookies?  The hamster must have left its cage, opened the cookie tin, and then it ate all the cookies, and now let's talk about something more important than cookies. It is normal for children to take more than their fair share of the cookies, children and parents know that. No occasion to think about morality, it's just how families' cookie distribution works.

Lagarde uses the same tone.

by Katrin on Mon Apr 4th, 2016 at 02:59:40 AM EST
[ Parent ]
Almost certainly she soon will internalize a more consistent code of self conduct. I am sure Legarde did also, many years ago, but it no longer applies too strictly in 'the real world'. The 'logic' you cite is not too distant from what we hear from too many 'leaders' on the subject of Greece or ECB policy.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Apr 4th, 2016 at 09:55:13 AM EST
[ Parent ]
At four, the hamster seems like a credible scapegoat.  By 14, you're supposed to know better.  I think Lagarde & Co. are regressing en masse.
by rifek on Tue Apr 5th, 2016 at 01:19:58 PM EST
[ Parent ]

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