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Greece: Euro crisis

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i think I just read the IMF is in charge of executing Italys austerity program - about the one thing the summit achieved. have I got this wrong? no time now to investigate. As the IMF has no electorate to answer to this will likely get brutal, and bound to lead to lots of street fighting - and from what I can see the Italian police have to be up there as near enough the most brutal in europe. Ugly.
 
ska invita said:
i think I just read the IMF is in charge of executing Italys austerity program - about the one thing the summit achieved. have I got this wrong? no time now to investigate. As the IMF has no electorate to answer to this will likely get brutal, and bound to lead to lots of street fighting - and from what I can see the Italian police have to be up there as near enough the most brutal in europe. Ugly.
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Yes,i was going to post this last night.The IMF now sits behind and checks the Italian govt. Every single move.
 
The IMFs role in Italy is described as being to monitor the reforms, but I think its pretty clear that it will go beyond that, as the following article demonstrates. Cannot be described as the IMF being in charge of executing the austerity though, they have no capability to do that, they exert control by dictating what should be done by the state.

http://www.bbc.co.uk/news/business-15600085

Ms Lagarde told reporters: "The problem that is at stake and that was clearly identified both by the Italian authorities and by its partners is a lack of credibility of the measures that were announced."

The IMF would also provide funds to stimulate Italy's economy under strict conditions, she said.
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And from the BBCs live blog:


1840: James Robbins Diplomatic correspondent

in Cannes says the G20 summit pushed Italy's Prime Minister Silvio Berlusconi into accepting that the IMF should monitor his government's debt reduction programme. "Italy insists it volunteered, but this amounts to a public audit every quarter by the IMF," he says.
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The vote has formally begun. I only caught part of Papandreou's speech. I don't know if his approach will work but he seems to be a pretty shrewd operator, played an interesting game this week.
 
From what i can tell to vote No Confidence would be to let the IMF run riot in Greece too. A good result probably, relatively speaking of course.

Anyone know how the IMF does its slashing thing? Argentina is a famous example in recent times, but I know nothing about the mechanisms by which it applies its will. Does it give directives? Who executes decisions?
 
ska invita said:
From what i can tell to vote No Confidence in Greece would be to let the IMF run riot. A good result probably, relatively speaking of course.

Anyone know how the IMF does its slashing thing? Argentina is a famous example in recent times, but I know nothing about the mechanisms by which it applies its will. Does it give directives? Who executes decisions?
Click to expand...
No vote or yes vote meant the same thing. Argentina told the IMF to fuck off.Where are you getting this stuff from?
 
butchersapron said:
No vote or yes vote meant the same thing. Argentina told the IMF to fuck off.Where are you getting this stuff from?
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here we go!

Just share what you know. I thought the IMF were responsible for restructuring Argentina. If not, say what happened - without being abusive or cryptic.

Argentian aside teh question is what is the mechanisms by which the IMF applies its will. Does it give directives? Who executes decisions?

And as to the no confidence vote it wouldve left a gaping hole of instability in Greece about the same shape as IMF < i read it in CIty AM a couple of days ago, predicting that would be the outcome of a No Confidence vote. IMF would force through the austerity package worked out by Sarkozy/Merkel. Seemed convincing when I read it.
 
ska invita said:
here we go!

Just share what you know. I thought the IMF were responsible for restructuring Argentina. If not, say what happened - without being abusive or cryptic.

Argentian aside teh question is what is the mechanisms by which the IMF applies its will. Does it give directives? Who executes decisions?

And as to the no confidence vote it wouldve left a gaping hole of instability in Greece about the same shape as IMF < i read it in CIty AM a couple of days ago, predicting that would be the outcome of a No Confidence vote. IMF would force through the austerity package worked out by Sarkozy/Merkel. Seemed convincing when I read it.
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You've told why it's not worth bothering. Look at at rhe IMF and argentina. Do this yourself.

You're supporting a side here why? A no vote?Why? Beyond your lack of reading.
 
JimW said:
This bloke reckons the Greeks were first told not to go to the IMF, then that they should and due to the EU's fucking about they're going to be even more royally shafted than the standard IMF fuck-over: http://www.voxeu.org/index.php?q=node/7222
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Don't matter what they're told-get out now with the best way of saving w/c money, that' sall that's left.Those 2 million with no money - here's what a modern revolution looks like.
 
butchersapron said:
Don't matter what they're told-get out now with the best way of saving w/c money, that' sall that's left.Those 2 million with no money - here's what a modern revolution looks like.
Click to expand...
Definitely, was more thinking it says something that the EU are worse austerity vampires than even the IMF.
 
butchersapron said:
You've told why it's not worth bothering. Look at at rhe IMF and argentina. Do this yourself.

You're supporting a side here why? A no vote?Why? Beyond your lack of reading.
Click to expand...

ska invita said:
. Just share what you know.
[...]
If not, say what happened - without being abusive or cryptic..
Click to expand...
im not supporting shit - jsut trying to make sense - talking things through - on the internet.
forget it apron. im going back to ignore with you. what a waste. lifes too short
dont bother reply - im not reading it.
 
ska invita said:
im not supporting shit - jsut trying to make sense - talking things through - on the internet.
forget it apron. im going back to ignore with you. what a waste. lifes too short
dont bother reply - im not reading it.
Click to expand...
Weird reaction off you, last time it was when you got the huff for being called on voting lib-dem - lib-dem for change.Thanks ska,appreciated.

How many times can you walk in going well i heard this so can't be FUCKING BOTHERED to check it out myself by some bloke saids it's like that,and if you fail to give me exactly what i want it's a comment on wider things.
 
Here is an amusing starting point for the IMF Argentina history lesson.

http://uk.reuters.com/article/2010/04/24/imf-argentina-idUSN2414517920100424

"If we had followed the recommendations traditionally made by (the IMF) -- which have favored opening our economies, foreign indebtedness, financial liberalization and 'unbeatable' market-oriented reforms -- the outcome would have been totally different and today we would have been embroiled in a fresh economic, social and political crisis," the statement said.
"Therefore, we celebrate today our well-gained economic independence."
Click to expand...
 
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