Analysis: What Greece Owes

Euro Sign, cc Flickr orkomedix

The International Monetary Fund (IMF) & Its Historic Blunder

The IMF has a lot running on keeping Greece from defaulting – around $26 billion to be exact.

The institution’s involvement in the bailout of the Greek state amounts to the biggest rescue in its history. The initial decision to get involved was made back in 2010 by former director Dominique Strauss-Kahn (the very same who was recently exonerated of pimping charges), after Angela Merkel fought to bring in the Fund to leverage its expertise at administering these kinds of bailouts – and also, presumably, to blunt the impression that it would be the primary responsibility of German taxpayers to foot the bill for rescuing Greece.

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