Word: imf
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...once and for all on a financial safety net for his country when they meet for a summit in Brussels on Thursday and Friday. If the E.U. can't come to terms on a rescue plan, he says, Greece will be forced to turn to the International Monetary Fund (IMF) - a move that could undermine the credibility of the euro. (See pictures of the global financial crisis...
...current wave of migration from the global South into the industrialized states is due to the failure of the IMF and the G-8's policies. The current global trading system is under exclusive control of the rich states, which doubtlessly want to keep it that way. Without the prospect of escaping poverty in their home countries any time soon, more and more people will decide to migrate north. The solution to the problem is not more rigid border policing, but a change of policy in the U.S. and Europe toward an equal global trading system that benefits all instead...
Undoubtedly, there is a stigma that is attendant to being bailed out by the IMF, which most often works with developing nations that are facing severe economic problems. However, Greece and the EU must not be so proud as to turn up their nose at the only realistic alternative that does not entirely sacrifice Greek sovereignty or reach beyond the limited powers granted the EU. Giving Greece this slap on the wrist for its economic mismanagement would also encourage other troubled eurozone economies that may be counting on the cushion of Franco-German bailout to finally institute meaningful fiscal...
Currently, the IMF is largely sitting on the sidelines in an advisory role to Athens as France and Germany seek a European solution to what they think of as a European problem. But, as the pitfalls of a Greek collapse would extend far beyond EU borders, European leaders should be more open to the idea of an IMF-directed bailout than they currently...
...voters have not authorized the EU to become an integrated political union that can determine a common fiscal policy for eurozone members. As such, it should not be in the power of European leaders to extract from EU treaties the ability to do so; rather, they should allow the IMF to lead the charge as it is an institution designed to do just that. Difficult as it may be, the EU must ensure that whatever steps it takes toward stronger economic union are not yet dependent on strengthening its political...