By John Galt
May 15, 2011
Let the games begin!
With DSK, the former IMF Chief, now participating in the exercise program in the New York City police holding cell, Greece has lost a crucial ally in the ability to borrow even more money that they will never repay. Thus this story leaking out to a German newspaper as reported by Reuters is no surprise:
IMF has doubts over more credit for Greece -paper
The reality is that the only solution is for Greece to default, either via a massive restructuring or by leaving the European Union. Based on the news reports that were not relayed across the mainstream media in the United States, the majority of our citizens would have no clue until they attempted to perform a currency exchange on a visit to Athens when the typical American tourist would say “a Dra-what?”
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