IMF biding its time on Greek rescue plan

IMF bides time on Greek aid package Sydney Morning Herald After the agreement reached last week between euro zone leaders on a new rescue plan for Greece, IMF managing director Christine Lagarde summed up all the caution that reigns in Washington, affirming "the IMF will continue to play its part". ...

Unheeded Lessons: What Did We Fail to Learn From the Financial Crisis? msnbc.com There was a widening of current account deficits, and the final nail in the coffin was the sharp appreciation of the euro. How will they restore competitiveness and growth? While the risk of a eurozone collapse is much less than it was a year ago, ...

Contagion in all three forms now has grip on Europe Independent Online This contagion will spread, until senior euro zone leadership decides – once and for all – who is to be saved and on what terms. Simon Johnson, who served as chief economist at the International Monetary Fund in 2007 and 2008, ...

IMF wins key battle with Europe on debt Irish Independent The deal has succeeded in avoiding, for now, a disorderly Greek default. But even with a measure of debt relief and an interest rate cut, Greece remains well removed from any realistic prospect of being able to borrow in the markets. ...

Europe wrongly blames Bush for financial crisis Kansas City Star By RACHEL MARSDEN If online comments and emails from friends are any indication, the overwhelming feeling about the American debt crisis here in Europe is that if Barack Obama is now in a position of having to raise the debt ceiling or face default, ...

US rushes to avert disastrous default AFP "But in the end there's no question in my mind the government of America will not default," he said, as Britain warned "right-wing nutters" in the US Congress posed a worse threat to the world economy than Europe's own financial crisis. ...

Cyprus Agrees on Austerity Measures, Seeking to Avoid Bailout Wall Street Journal The country was already wrestling with modest growth and possible contagion from Greece, which received a second euro-zone bailout Thursday, when a July 11 blast reduced Vasilikos, the island nation's largest power plant, to twisted metal and rubble....

Greece Hundred Billion Bailout Hogwash Daily Markets By readtheticker on July 24, 2011 | More Posts By readtheticker | Author's Website “The bailout blueprint avoids for the time being default and escalating contagion, but in Felix's view it does zilch to ameliorate the causes of Greece's (or anybody ...

A default's painful cost to you Albany Times Union "If we default on our debt even for a few days, it's going to affect interest rates for years," Schumer said, adding that the economic effects of that would be far more serious than the 2008 financial crisis. Several economists, such as Bo Cutter of ...

Pimco Sees Rising Euro-Contagion Risk for Poland on 'Policy ... Poland's risk of contagion from the euro-area debt crisis is rising because the country isn't doing enough to cut its budget gap, said Michael Gomez, ... www.bloomberg.com/.../pimco-sees-rising-euro-contagion-ris...

Euro Financial Crisis: No End In Sight - Geopolitical Monitor Market jitters over Italian insolvency are more than just another soft European economy being added to the ever-growing list of debt anchors pulling the ... www.geopoliticalmonitor.com/the-euro-under-siege-4417

Public Information Notice: IMF Executive Board Concludes Article ... IMF Executive Board Concludes Article IV Consultation on Euro Area Policies ... of theIMF's views and analysis of economic developments and policies. ... www.imf.org/external/np/sec/pn/2011/pn1191.htm

Greek Crisis Poses Serious Contagion Risk Even Without Default ... Both the European Commission and the European Central Bank “considered that a sovereign default or a credit event would likely trigger contagion to the core ... theglobalrealm.com/.../greek-crisis-poses-serious-contagion-ris...