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Expanding on this inchoate reaction :

What are the consequences if the IMF says "hey this is not OK"?

  • Concretely, how much fresh money is the IMF scheduled to provide? What are the consequences if they walk away?

  • Or will their objections be overruled?

  • Or do they still have veto power? In which case, the "troika" is still in business, and the shit hits the fan.


It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Tue Feb 24th, 2015 at 01:47:38 PM EST
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"What are the consequences if the IMF says "hey this is not OK"?"

They don't say that for the moment, but they reserve the right to do so in the next round of negotiations.

I don't know if the complete Lagarde letter has already been linked to on one of the different threads here, but here is the whole package of statements and letters as pdf in English and German for the Bundestag's information. Lagarde's letter is on page 20. She definitely still claims veto power.

by Katrin on Wed Feb 25th, 2015 at 04:49:52 AM EST
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Does the 'next round' mean in four month?
by rz on Wed Feb 25th, 2015 at 04:52:14 AM EST
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That's how I interpret the letter.
by Katrin on Wed Feb 25th, 2015 at 04:58:47 AM EST
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Greece has to work out detailed plans by April which will be "approved" again, I am rather guessing that that's what is meant.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Wed Feb 25th, 2015 at 11:10:08 AM EST
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Link is broken.
by generic on Wed Feb 25th, 2015 at 05:11:05 AM EST
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by Katrin on Wed Feb 25th, 2015 at 05:16:28 AM EST
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Thank you.
by generic on Wed Feb 25th, 2015 at 05:25:40 AM EST
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I find it highly interesting and positive that the letter from Draghi contains this:

"...the commitments outlined by the authorities (Greece) differ from existing programme material in a number of areas. In such cases, we will have to assess during the review whether measures which are not accepted by the authorities are replaced with measures of equal or better quality in terms of achieving the objectives of the program me."

To me this reads that Varoufakis even convinced Draghi to support the Syriza programme somewhat.

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Wed Feb 25th, 2015 at 06:13:54 AM EST
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