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Showing posts with label IMF. Show all posts
Showing posts with label IMF. Show all posts

Monday, 15 October 2012

IMF Warning Over Acting Quickly Before It Is To Late

The International Monetary Fund has urged Eurozone leaders to act swiftly in response to the debt crisis in Greece and Spain, or risk dragging down the global economy with another financial crisis. The IMF warned that the situation was grave and could escalate into a wider downturn unless national leaders ended their disputes with a long-lasting deal.

This was a snippet that l pulled off one of my news desk reports and basically sums up the situation in the Eurozone at the present time,as the lender of last resort the European Central Bank {ECB} has been brought into the fray! Now remember l said lender of last resort and that was the reason why they were formed in the first place,as a so-called last chance saloon.

So as many of the leaders try to protect their countries wealth but at the same time have to adhere to the original agreement to help other countries when they get into trouble,they try to find the way!

In my opinion their is two really stark choices both that are not palatable to either the Germans and the richer countries or too the ones that now come to the table of last resort with their begging bowl and simply ask for some more! The problem facing the countries with plenty to spare is how much of a bigger helping do we give them and how will they repay what they are given. 

As we all know so well debt and more debt does not provide a stable economy long-term solution and the people of Greece and Spain need that reassurance! So my question's to the IMF and their leaders what happens when the cupboard is bare and you can no longer support these dying economies!

Do you cut them off without a penny and dismiss their debts as non-repayable?

Or maybe you print more under the QE idea of course that means devaluing the Euro?

Or maybe finally you admit defeat and disband what has become a cash-cow for the members and a burden for those that can no longer contribute or repay their indebtedness?

Over to you IMF!!!! 
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