Word: imf
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...only institutions with enough money (over $750 billion in lending capacity) to sustainably prop up the Greek economy, but the fund also has unmatched experience in setting troubled economies straight—that, after all, is its purpose. While it is unprecedented for the IMF to bail out a eurozone nation, it has bailed out several EU members including the United Kingdom in 1976 and, more recently, Hungary, Latvia, and Romania in cooperation with...
...markets are finding it tough to trust Athens. At the World Economic Forum in Davos rumors swirled - despite assurances to the contrary by Greek and E.U. officials - that Greece was on the brink of a default and would need a bailout from Brussels or the International Monetary Fund (IMF) - or even get booted out of the E.U. altogether. "If any other country was making the kinds of adjustments that we are, it would be applauded," says Papaconstantinou. "In our case, they are not sure we are actually doing it." (Read: "Why Greece Could Be the Next Dubai...
...mistakes of a government over which they have no democratic control. Such a policy simply isn't reasonable and lacks public support," says Pieter Cleppe, head of the Brussels office of Open Europe, a think tank that opposes greater centralization of power in the E.U. Indeed, the IMF has already given millions in bailout money to E.U. countries like Hungary and Latvia, neither of which uses the euro, but eurozone countries fear that such a move would hurt the reputation of their union on the global stage. ( Read: "Taxing Times in Greece...
...analysts say it wasn't just Morales' social largesse that ensured a larger landslide this time. Critics foresaw macroeconomic disaster three years ago when Morales, fulfilling a campaign promise, nationalized Bolivia's vast natural-gas reserves. Among the doubters was the International Monetary Fund (IMF) in Washington. Today the IMF is hailing Bolivia's projected economic growth rate of almost 3%, one of the hemisphere's highest, as well as the fact that the country's economy has averaged almost 5% annual growth since Morales came to office, Bolivia's best performance in three decades. "Bolivia is the most profound...
...With the IMF scheduled to report next April its own findings on possible funding options for future bailouts, banks will, in one way or another, be forced to put aside more to cover the costs. Tobin, were he alive, would surely welcome that...