John Taylor: IMF Loans To Greece Bailed Out Banks And Worsened The Situation…”Greece can be described in one word:disaster.”
by Tyler Durden
ZeroHedge.com
07/10/2015
Greece has already collapsed, and the only real question is whether the ECB will give Greek depositors time to withdraw some of the €120 billion in deposits it holds hostage with the frozen ELA, or if the ECB will admit the truth about the Greek insolvent banking system risking Eurozone contagion. A better question is just what is the purpose of the IMF whose intervention in Greece can be described in one word: disaster. It can also be described in eleven, as the creator of the Taylor Rule, John Taylor, has done in a blog post which can be summarized as follows: IMF Loans To Greece Bailed Out Banks And Worsened The Situation.
The Rest…HERE
